Overview
Snap-On Q3 sales rise 3.8% to $1.19 bln, beating analyst expectations
Diluted EPS of $5.02 beats estimates, includes $0.31 benefit from legal settlement
Pretax profit beats estimates, reflecting strong operational performance
Outlook
Snap-on expects 2025 capital expenditures to be around $100 mln
Company anticipates 2025 effective income tax rate between 22% and 23%
Snap-on sees resilience against current market uncertainties
Result Drivers
ORGANIC SALES GROWTH - Snap-On reports 3.0% organic sales growth, contributing to overall revenue increase
REPAIR SYSTEMS & INFORMATION GROUP - Segment sales rose 8.9% organically due to higher activity with OEM dealerships and independent repair shops
COMMERCIAL & INDUSTRIAL GROUP - Segment faced 0.8% organic sales decline due to reductions in Asia Pacific business
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales | Beat | $1.19 bln | $1.15 bln (8 Analysts) |
Q3 EPS | Beat | $5.02 | $4.63 (8 Analysts) |
Q3 Net Income | $271.80 mln | ||
Q3 Pretax Profit | Beat | $349.30 mln | $326.03 mln (6 Analysts) |
Q3 Adjusted Operating Earnings | $278.50 mln | ||
Q3 Gross Profit | $605.90 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy."
Wall Street's median 12-month price target for Snap-On Inc is $352.50, about 5.6% above its October 15 closing price of $332.59
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago
Press Release: ID:nBw9YclBca
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)