Our Mission
The most valued productivity solutions in the world

Our Companies:
Snap-on has assembled the industry's most complete portfolio of technology. Snap-on Companies

Snap-on Careers

KENOSHA, Wis., July 20, 2017 -- Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the second quarter of 2017. 

  • Net sales of $921.4 million increased $49.1 million, or 5.6%, from 2016 levels, reflecting a $23.2 million, or 2.7%, organic sales gain and $38.4 million of acquisition-related sales, partially offset by $12.5 million of unfavorable foreign currency translation.  (See “Non-GAAP Measures” below for a definition of, and further explanation about, organic sales.)

  • Operating earnings before financial services of $183.7 million improved 80 basis points to 19.9% of sales as compared to $166.4 million, or 19.1% of sales, last year. 

  • Financial services revenue of $77.7 million increased $8.4 million from 2016 levels; financial services operating earnings of $54.6 million increased from $49.5 million last year.

  • Consolidated operating earnings of $238.3 million improved 100 basis points to 23.9% of revenues (net sales plus financial services revenue) as compared to $215.9 million, or 22.9% of revenues, last year. 

  • The second quarter effective income tax rate was 30.6% in 2017 and 31.0% in 2016.   

  • Net earnings of $153.2 million, or $2.60 per diluted share, compared to net earnings of $140.1 million, or $2.36 per diluted share, a year ago.

“We believe diluted earnings per share growth of 10.2% and a net sales increase of 5.6%, including an organic sales rise of 2.7%, represent encouraging results for the second quarter and confirm our success in serving serious professionals performing critical tasks,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “Our year-over-year improvement in operating margin before financial services reflects ongoing progress through our Snap-on Value Creation Processes. At the same time, these results also demonstrate continued advancement along our strategic runways for growth, as indicated by the notable increase in activity in the quarter. Despite some sales headwinds in the quarter for the Snap-on Tools Group, we believe the vehicle repair markets in which we operate remain robust and afford significant ongoing opportunity. Furthermore, our acquisition of Norbar Torque Tools in the second quarter adds to our expanding product offering to customers in critical industries. Finally, these results would not have been possible without the dedication and capability of our franchisees and associates worldwide; I thank them for their extraordinary commitment and ongoing contributions.”

Click here for the complete release and more Snap-on news.


Events and Presentations

Snap-on 2017 Second Quarter Results Call
Thursday, July 20 @ 10:00 am ET/9:00 am CT

Oppenheimer 2017 Industrial Growth Conference
Replay

Snap-on 2017 First Quarter Results Call
Replay

Snap-on 2017 Annual Meeting of Shareholders
Replay

Snap-on 2016 Fourth Quarter and Full Year Results Call
Replay

Baird 2016 Industrial Conference Presentation ~
Replay 

 

Recent Corporate News

Snap-on to Present at Oppenheimer Conference
May 8, 2017

Snap-on Incorporated Declares Quarterly Dividend
April 27, 2017

Snap-on Announces First Quarter 2017 Results
April 20, 2017

Snap-on to Webcast Annual Shareholder Meeting
April 5, 2017

Snap-on Incorporated Declares Quarterly Dividend
February 9, 2017

 

Annual Report Notice of Annual Meeting 
and Proxy Statement

2016 Annual Report

2017 Proxy Statement

2015 Annual Report

2016 Proxy Statement
2014 Annual Report 2015 Proxy Statement
2013 Annual Report 2014 Proxy Statement
2012 Annual Report 2013 Proxy Statement

 

Snap-on Incorporated is the owner of the trademark SNAP-ON registered in the United States and other countries, and also claims rights associated with its unregistered trademarks. ©2017 Snap-on Incorporated; All rights reserved.