Market Overview

Snap-on: Q3 Earnings Insights

Share:

Shares of Snap-on (NYSE:SNA) climbed 5% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 10.81% over the past year to $3.28, which beat the estimate of $2.16.

Revenue of $941,600,000 up by 4.41% year over year, which beat the estimate of $806,170,000.

Guidance

Snap-on hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Oct 22, 2020

Time: 10:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/mok68rzs

Technicals

52-week high: $172.61

Company's 52-week low was at $90.72

Price action over last quarter: Up 8.11%

Company Overview

Snap-on is a manufacturer of premium tools and software for professional technicians. Hand tools are sold through franchisee-operated mobile vans that serve auto technicians who purchase tools at their own expense. A unique element of its business model is that franchisees bear significant risk, as they must invest as much as $375,000 in the van, inventory, and software. At the same time, franchisees extend personal credit directly to technicians on an individual tool basis. Snap-on currently operates three segments—repair systems and information, commercial and industrial, and tools—which accounted for 31%, 38%, and 31%, respectively, of its $3.7 billion 2018 manufacturing revenue. Its financing arm generates 8% of consolidated revenue and 24% of operating income.

 

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Posted-In: Earnings News