- Net sales for Snap-On in Q2 2024 were $1.18 billion, a 1% decrease year-over-year, missing the estimate of $1.2 billion.
- Commercial & Industrial Group net sales were $372.0 million, a 2.1% increase year-over-year, close to the estimate of $372.4 million.
- Snap-on Tools Group net sales were $482.0 million, a 7.9% decrease year-over-year, below the estimate of $501.7 million.
- Repair Systems & Information Group net sales were $454.8 million, a 0.6% increase year-over-year, below the estimate of $471.1 million.
- Financial Services revenue was $100.5 million, showing a solid 7.6% increase year-over-year, surpassing the estimate of $97.2 million.
- Earnings per share (EPS) stood at $5.07, compared to $4.89 in the previous year.
- Snap-On maintains its full-year capital expenditure forecast of $100 million to $110 million, in line with the $103 million estimate.
- The company anticipates a full-year 2024 effective income tax rate in the range of 22% to 23%.
- Analyst recommendations include 3 buys, 7 holds, and 4 sells.
A look at Snap On Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Snap-on Inc seems to have a positive long-term outlook. With a solid score of 4 in Growth, the company is expected to expand and develop in the future. This is complemented by scores of 3 in Value, Dividend, Resilience, and Momentum, indicating a stable foundation and consistent performance across various factors. Snap-on Inc’s focus on developing, manufacturing, and distributing tool and equipment solutions for the automotive service industry positions it well for continued growth and resilience in the market.
With a diverse range of products catering to professional service technicians and motor service shop owners, Snap-on Inc is well-positioned to capitalize on the growing demand for quality tools and equipment in the automotive service sector. The combination of solid scores across key factors like Growth, Resilience, and Momentum suggests that the company is on a positive trajectory for the long term, making it an attractive prospect for investors seeking stability and potential growth in the tools and equipment industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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