Snap-on Q4 Results Rise, Top Estimates

Snap-on Inc. (SNA), a manufacturer of tools, equipment, diagnostics, and systems solutions, reported Thursday that its fourth-quarter net earnings were $238.9 million or $4.42 per share, higher than last year's $223.7 million or $4.10 per share.

On average, nine analysts polled by Thomson Reuters expected earnings of $4.2 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues grew to $1.24 billion from prior year's $1.20 billion. Net sales of $1.16 billion increased 4.3% from last year's $1.11 billion, reflecting an 8% organic sales gain.

Analysts expected revenues of $1.15 billion for the quarter.

Looking ahead, the company said, "In 2023, despite the uncertainties, Snap-on expects to make continued progress along its defined runways for coherent growth, leveraging capabilities already demonstrated in the automotive repair arena and developing and expanding its professional customer base..."

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT