Snap-On (SNA) Tops Q4 EPS by 23c

Snap-On (NYSE: SNA) reported Q4 EPS of $4.42, $0.23 better than the analyst estimate of $4.19. Revenue for the quarter came in at $1.16 billion versus the consensus estimate of $1.15 billion.

Outlook

We believe that our markets and our operations possess and have demonstrated considerable resilience against the varying turbulence evident in the current environment. 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, 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 can be high. In pursuit of these initiatives, it is projected that capital expenditures in 2023 will be in a range of $90 million to $100 million. Snap-on continues to respond to global macroeconomic challenges through its Rapid Continuous Improvement (RCI) process and other cost reduction initiatives.

Snap-on currently anticipates that its full year 2023 effective income tax rate will be in the range of 23% to 24%

For earnings history and earnings-related data on Snap-On (SNA) click here.

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