Why Snap-on Stock Soared Today [Yahoo! Finance]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: Yahoo! Finance
Shares of leading tools, equipment, diagnostics, and repair information systems manufacturer Snap-on (NYSE: SNA) were up 9% as of 2:15 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence , after the company released its financial results for the third quarter. While Snap-on's sales dip of 1% met analysts' expectations, its earnings-per-share (EPS) growth of 4% and EPS of $4.70 was well above analysts' expectations of $4.56, sending the company's shares higher. Snap-on continues trudging through a complex environment Selling 85,000 tools to professionals in over 130 countries, Snap-on serves numerous end markets, from automobile mechanics and technicians to heavy-duty commercial and industrial customers. Although the company's Q3 earnings were underwhelming at first blush, one catalyst stood out as a rallying point for investors. In its largest segment, Snap-on Tools (sales to auto repair shops), sales slid 4% year over year, but revenue grew 4% on a
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