Snap-on Q4 Results Rise, Top Estimates

(RTTNews) - Snap-on Inc. (SNA), a manufacturer of tools, equipment, diagnostics, and systems solutions, reported Thursday that its fourth-quarter net earnings were $238.9 million or $4.42 per share, higher than last year's $223.7 million or $4.10 per share.

On average, nine analysts polled by Thomson Reuters expected earnings of $4.2 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues grew to $1.24 billion from prior year's $1.20 billion. Net sales of $1.16 billion increased 4.3% from last year's $1.11 billion, reflecting an 8% organic sales gain.

Analysts expected revenues of $1.15 billion for the quarter.

Looking ahead, the company said, "In 2023, despite the uncertainties, Snap-on expects to make continued progress along its defined runways for coherent growth, leveraging capabilities already demonstrated in the automotive repair arena and developing and expanding its professional customer base..."

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