Snap-On (NYSE: SNA) reported Q2 EPS of $2.60, versus $2.36 reported last year. Revenue for the quarter came in at $921.4 million, versus $922.8 million consensus.

Outlook

Snap-on expects to make continued progress in 2017 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, Snap-on expects that capital expenditures in 2017 will be in a range of $80 million to $90 million, of which $34.4 million was expended in the first six months of the year. Snap-on also anticipates that its full year 2017 effective income tax rate will be comparable to its 2016 full year rate.

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