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KENOSHA, Wis., April 21, 2016 -- 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 first quarter of 2016.  

  • Sales of $834.2 million increased $6.4 million, or 0.8%, from 2015 levels; excluding $16.4 million of unfavorable foreign currency translation and $2.6 million of acquisition-related sales, organic sales increased $20.2 million or 2.5%.

  • Operating earnings before financial services of $155.4 million increased 190 basis points to 18.6% of sales as compared to $137.9 million, or 16.7% of sales, last year. 

  • Financial services operating earnings of $47.0 million increased $6.7 million, or 16.6%, from 2015 levels; financial services revenue of $66.3 million increased 15.5% from 2015 levels.

  • Consolidated operating earnings of $202.4 million improved to 22.5% of revenues (net sales plus financial services revenue) as compared to $178.2 million, or 20.1% of revenues, last year. 

  • The first quarter effective income tax rate was 31.0% in 2016 and 32.0% in 2015. 

  • Net earnings of $128.3 million, or $2.16 per diluted share, compared to net earnings of $110.5 million, or $1.87 per diluted share, a year ago. 

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Events and Presentations

Oppenheimer Industrial Growth Presentation ~
Replay

Snap-on 2016 First Quarter Results Call ~ Replay
Slides, Transcript

Snap-on 2016 Annual Meeting of Shareholders ~ Replay

 

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Annual Report Notice of Annual Meeting 
and Proxy Statement

2015 Annual Report

2016 Proxy Statement
2014 Annual Report 2015 Proxy Statement
2013 Annual Report 2014 Proxy Statement
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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. ©2016 Snap-on Incorporated; All rights reserved.