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KENOSHA, Wis., April 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 first quarter of 2015.

  • Sales of $827.8 million increased $40.3 million, or 5.1%, from 2014 levels; excluding $38.5 million of unfavorable foreign currency translation and $4.9 million of acquisition-related sales, organic sales increased 9.9%.

  • Operating earnings before financial services of $137.9 million improved 120 basis points to 16.7% of sales as compared to $121.7 million, or 15.5% of sales, last year. 

  • Financial services operating earnings of $40.3 million increased $5.9 million, or 17.2%, from 2014 levels; financial services revenues of $57.4 million increased 14.3% from 2014 levels.

  • Consolidated operating earnings of $178.2 million improved to 20.1% of revenues (net sales plus financial services revenue) as compared to $156.1 million, or 18.6% of revenues, last year. 

  • The first quarter effective income tax rate was 32.0% in 2015 and 31.6% in 2014.

  • Net earnings of $110.5 million, or $1.87 per diluted share, compared to net earnings of $95.9 million, or $1.62 per diluted share, a year ago. 

“We’re pleased to begin 2015 with encouraging first quarter results that included broad-based organic sales growth of 9.9% and a 15.4% increase in diluted earnings per share,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “We believe these results confirm Snap-on’s unique capabilities in providing valued productivity solutions to a growing range of professional customers performing critical tasks in workplaces of consequence.  Additionally, we achieved a 120 basis point improvement in operating margin before financial services, further demonstrating our ability to realize ongoing benefits from our Snap-on Value Creation Processes.  Finally, this continued progress along our defined runways for both coherent growth and operating improvement would not be possible without the capability and commitment so evident across Snap-on, and I thank our franchisees and associates worldwide for their significant contributions and extraordinary effort.” 

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Events and Presentations

Snap-on First Quarter 2015 Results Call
April 23, 2015 @ 10:00AM Eastern

Snap-on Fourth Quarter 2014 Results Call Transcript

Snap-on Fourth Quarter and Full Year 2014 Results Call

2014 Baird Industrial Conference Presentation

Snap-on Third Quarter 2014 Results Call Transcript

RBC 2014 Global Industrials Conference Transcript

Jefferies 2014 Global Industrials Conference Transcript

Snap-on Second Quarter 2014 Results Call Transcript

2014 Baird Growth Stock Conference Transcript


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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. ©2015 Snap-on Incorporated; All rights reserved.