Snap-On misses quarterly sales estimates on lower tool demand [Yahoo! Finance Canada]
Snap-On Incorporated (SNA)
Last snap-on incorporated earnings: 4/21 06:30 am
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Source: Yahoo! Finance Canada
Higher borrowing costs and a rise in prices of tools - one of the company's biggest revenue drivers - have led customers to limit purchases. Sales in the Snap-On's tools segment fell about 3% to $500.5 million, marking the third straight quarter in which the company reported a sales drop in the division. Total sales fell 1.1% to about $1.15 billion, compared to a year ago, marginally missing the average analysts' estimate of about $1.16 billion, according to data compiled by LSEG. The Kenosha, Wisconsin-based manufacturer, however, reported a profit of $4.70 per share, compared with expectations of $4.59. The profit growth was largely aided by lower costs. Snap-On's operating margin before financial services increased by 80 basis points to 22%. (Reporting by Utkarsh Shetti in Bengaluru; Editing by Pooja Desai)
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SNA
Earnings
- 10/17/24 - Beat
SNA
Sec Filings
- 11/1/24 - Form 4
- 10/29/24 - Form 4
- 10/28/24 - Form 144
- SNA's page on the SEC website