Snap-on Announces Second Quarter 2019 Results
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Snap-On (SNA) Tops Q2 EPS by 1c, Revenues Miss
July 18, 2019 6:32 AM EDTSnap-On (NYSE: SNA) reported Q2 EPS of $3.22, $0.01 better than the analyst estimate of $3.21. Revenue for the quarter came in at $951.3 million versus the consensus estimate of $959.33 million.
Net sales of $951.3 million decreased $3.3 million, or 0.3%, from 2018 levels, reflecting a $15.1 million, or 1.6%, organic sales increase and $1.1 million of acquisition-related sales, more than offset by $19.5 million of unfavorable foreign currency translation.Operating earnings before financial services for the quarter of $189.9 million, or 20.0% of sales, including $5.9 million of unfavorable foreign currency effects, compared to $193.1 million, or 20.2% of sales, last year.Financial services revenue of $84.1 million... More