$356.460
-12.013 (-3.37%)At close
SNA News
SNA Events
Snap-on Reports Q3 Revenue of $1.18B, Below Expectations
Reports Q3 revenue $1.18B, consensus $1.24B. "Our Q3 was mixed with varied outcomes among our business groups. The results were principally marked by the unprecedentedly accelerated rise in diesel prices, which in our mobile van channel prompted franchisees to reduce inventories despite very stable demand from their technician customers, substantially impacting the Tools Group in the period and overcoming what was an encouraging, record-setting performance in the Commercial & Industrial Group, led by gains in the critical industries and the precision torque arena," said CEO Nick Pinchuk. "But even with the challenges raised by the extreme turbulence, Snap-on Value Creation continued to support a resilience that kept gross margins strong...As we look ahead, we believe the Tools Group is well-positioned with its robust array of quick-payback products to drive progress as the wave passes; our proprietary databases are increasingly effective at streamlining work in independent vehicle repair shops, and we possess considerable momentum across the critical industries based on the growing popularity of our customized solutions..."
Snap-On Expects 2026 CapEx of $100M
Snap-On still sees 2026 CapEx $100M
Snap-on Projects 2026 Capital Expenditures of Approximately $100 Million
"We believe that our markets and our operations possess and have demonstrated continuing and considerable resilience against the uncertainties of the current environment. Snap-on expects to make ongoing progress along its decisive runways for coherent growth, leveraging capabilities already proven in the automotive repair arena, developing and expanding its professional customer base, not only in automotive repair, but in adjacent markets, additional geographies and other areas, including extending in critical industries, where the cost and penalties for failure are high. In pursuit of these initiatives, we project that capital expenditures in 2026 will approximate $100 million, of which $44.3 million was incurred in the first six months of the year. Snap-on currently anticipates that its full-year 2026 effective income tax rate will approximate 22%."
Snap-on Reports Q2 Revenue of $1.24B, Exceeds Expectations
Reports Q2 revenue $1.24B, consensus $1.22B. "Our performance was again encouraging, demonstrating the broad resilience of our markets, the substantial power of our business models, and the considerable advantages we hold in product, brand and people, driving ongoing overall momentum in sales and earnings and achieving improved gross margins, overcoming an environment of significantly increasing turbulence," said Nick Pinchuk, Snap-on chairman and chief executive officer. "In the period, the continuing sales growth in the U.S. Tools Group, the gains in our Asia Pacific and European-based hand tools operations, and our rise in the critical industries, all confirm the diverse and abundant opportunities available along our runways for growth. In that regard, during the quarter, we completed the acquisitions of Hi-Force Hydraulic Tools to further our offerings in the robust torque arena and Diesel Laptops to add capabilities in diagnostics, repair information and digital solutions for the commercial truck and off-highway vehicle markets. We believe that with these recent pursuits to extend in critical industries and expand with repair shop owners and managers, along with our focused efforts to enhance the franchise van channel, we are well positioned to move forward on a positive trajectory. We'll keep investing in our already decisive strengths and we'll remain committed to our Snap-on Value Creation Processes to maintain capacity for advancement in a variety of conditions. Finally, the success of our enterprise is rooted in the deep experience, distinctive proficiency, and the relentless commitment of Snap-on people...unique characteristics that enable and ensure our enduring progress. As such, I want to thank both our franchisees and associates for their valuable contributions, for their steadfast dedication to our team, and for their unwavering belief in our days and years to come."
Snap-on Authorizes Share Repurchase Program of Up to $500 Million
Snap-on announced that its board of directors authorized a share repurchase program of up to $500 million of common stock, replacing the current share repurchase program under which, as of the end of the first quarter of 2026, approximately $230 million of authorization remained. An additional previously approved share repurchase program, which allows the repurchase of up to the number of shares issued under the company's various equity plans, remains in place. Shares may be repurchased from time to time in the open market or through privately negotiated transactions, subject to market conditions, legal requirements and other considerations.
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.