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Snap-On (SNA) Tops Q2 EPS by 13c

July 21, 2016 6:31 AM

Snap-On (NYSE: SNA) reported Q2 EPS of $2.36, $0.13 better than the analyst estimate of $2.23. Revenue for the quarter came in at $872.3 million versus the consensus estimate of $876.67 million.

“We believe our second quarter results continue to confirm Snap-on’s capabilities in serving serious professionals performing critical tasks in workplaces of consequence around the world,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “This performance, which includes 2.9% organic sales growth and a 16.3% increase in diluted earnings per share, demonstrates further progress along our defined runways for coherent growth and ongoing strength in automotive repair while overcoming continuing headwinds in certain challenging end markets and geographies. The 140 basis point improvement in operating margin before financial services also reflects contributions from our Snap-on Value Creation Processes, which drive our ongoing improvements in safety, quality, customer connection, innovation and rapid continuous improvement. Finally, these results and achievements reflect significant effort and dedication across the organization and I thank our franchisees and associates worldwide for their extraordinary contributions and commitment.”

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

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