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Market Overview

Recap: Snap-on Q2 Earnings

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Shares of Snap-on (NYSE:SNA) decreased 0.3% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 96.86% over the past year to $3.76, which beat the estimate of $3.21.

Revenue of $1,081,000,000 higher by 49.25% from the same period last year, which beat the estimate of $974,210,000.

Outlook

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: Jul 22, 2021

Time: 10:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/4sazk4o9

Technicals

Company's 52-week high was at $259.99

Company's 52-week low was at $137.88

Price action over last quarter: down 6.41%

Company Description

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 in the mobile 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. The company's finance arm provides financing to franchisees to run their operations, which includes offering loans and leases for mobile vans.

 

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Posted-In: BZI-RecapsEarnings News

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