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KENOSHA, Wis., July 23, 2015 -- 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 2015.

  • Sales of $851.8 million increased $25.3 million, or 3.1%, from 2014 levels; excluding $43.4 million of unfavorable foreign currency translation and $2.8 million of acquisition-related sales, organic sales increased $65.9 million or 8.4%.
  • Operating earnings before financial services of $150.8 million improved 100 basis points to 17.7% of sales as compared to $138.1 million, or 16.7% of sales, last year. 
  • Financial services operating earnings of $41.4 million increased $6.6 million, or 19.0%, from 2014 levels; financial services revenues of $58.7 million increased 13.5% from 2014 levels.
  • Consolidated operating earnings of $192.2 million improved to 21.1% of revenues (net sales plus financial services revenue) as compared to $172.9 million, or 19.7% of revenues, last year. 
  • The second quarter effective income tax rate was 32.0% in 2015 and 32.9% in 2014. 
  • Net earnings of $120.0 million, or $2.03 per diluted share, compared to net earnings of $106.1 million, or $1.80 per diluted share, a year ago.

“We’re encouraged by the ongoing progress reflected in our second quarter results, including 8.4% organic sales growth, a 17.7% operating margin before financial services, representing a 100 basis point improvement, and a 12.8% increase in diluted earnings per share,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “We believe these results once again validate Snap-on’s ability to build upon our unique combination of capabilities in serving serious professionals and to successfully navigate our runways for coherent growth and operating improvement in multiple industries across varied geographies. Finally, this continued progress is only possible as a result of the tremendous dedication, effort and skill across the Snap-on team.  In that regard, I thank our franchisees and associates worldwide for their contributions, commitment and support.” 

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Events and Presentations

2015 Second Quarter Results Conference Call
July 23, 2015 @ 10:00 am ET / 9:00 am CT

2015 Baird Growth Stock Conference ~ Replay
Slides, Transcript

Snap-on 2015 Annual Meeting of Shareholders ~ Replay

Snap-on First Quarter 2015 Results Call ~ Replay

 

Recent Corporate News

Snap-on Incorporated Declares Quarterly Dividend
April 30, 2015

Snap-on Announces First Quarter 2015 Results
April 23, 2015

Snap-on Incorporated Declares Quarterly Dividend
February 12, 2015

Snap-on Announces Fourth Quarter and Full Year Results
February 5, 2015

Snap-on Raises Dividend 20.5%
November 6, 2014

 

Annual Report Notice of Annual Meeting 
and 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. ©2015 Snap-on Incorporated; All rights reserved.