Welcome to our dedicated page for Snap-On news (Ticker: SNA), a resource for investors and traders seeking the latest updates and insights on Snap-On stock.
Snap-on Incorporated designs, manufactures and markets tools, equipment, diagnostics, repair information and systems solutions for professional users in vehicle repair, aerospace, military, natural resources and manufacturing. Its updates commonly cover segment sales trends in Tools, Commercial & Industrial, Repair Systems & Information and Financial Services, along with organic sales, margins and financing programs that support product sales and the franchise business.
Recurring news also includes dividend declarations, share repurchase authorizations, investor conference presentations, annual meeting communications and acquisitions that expand industrial tool capabilities. The completed purchase of Hi-Force added high-pressure hydraulic tools, heavy lifting systems, and torque and tensioning equipment within the Commercial & Industrial Group.
Snap-on Incorporated (NYSE: SNA) will announce its 2020 fourth quarter and full year results on February 4, 2021, before market opening. A conference call is scheduled for 10:00 a.m. ET to discuss the results, available via live webcast. Interested parties can access the call at www.snapon.com/EN/Investors/Investor-Events. The call's archived replay will be available on the website for at least one week. Snap-on specializes in tools and diagnostic solutions across various industries, generating $3.7 billion in revenue.
Snap-on announced a quarterly dividend of $1.23 per share, payable on December 10, 2020, reflecting a 13.9% increase from the prior dividend of $1.08. This marks the company's eleventh consecutive annual dividend increase since 1939, underscoring its financial strength and commitment to shareholder value. CEO Nick Pinchuk highlighted the firm's robust cash generation capabilities and strategic focus on growth through investments and acquisitions, reinforcing their favorable outlook for the future.
Snap-on Incorporated (NYSE: SNA) will present at the Gabelli 44th Annual Automotive Aftermarket Symposium on November 2, 2020, at 9:30 AM ET. The live webcast can be accessed here or through the Snap-on Investor Events page. An archived replay will be available for 90 days post-event. Snap-on, founded in 1920, is a leading innovator in tools and systems solutions, with a revenue of $3.7 billion, serving various industries including aviation, construction, and automotive.
Snap-on reported third-quarter 2020 net sales of $941.6 million, a 4.4% increase from 2019, driven by a 3.8% organic sales gain. Operating earnings rose 10.7% to $185.7 million, despite $1.5 million in COVID-19-related costs. Financial services revenue increased to $85.8 million, with operating earnings of $65.6 million. The Commercial & Industrial Group saw a decline of 8.6% in organic sales, while the Snap-on Tools Group experienced a 16.2% increase. Snap-on maintains a focus on growth despite uncertainties due to COVID-19.
Snap-on Incorporated (NYSE: SNA) will announce its 2020 third quarter results before the market opens on October 22, 2020. A conference call is scheduled for 10:00 a.m. ET to discuss these results, with a live audio webcast available on Snap-on's investor events page. The quarter's results, along with accompanying slides, will also be accessible via the Snap-on website. An archived replay will be provided for at least one week following the call. Established in 1920, Snap-on is a $3.7 billion leader in tool manufacturing and services.
Snap-on acquired the assets of AutoCrib, Inc. for approximately $36 million in cash on September 28, 2020. AutoCrib, with 2019 sales of about $30 million, is known for its tool and asset control solutions. The acquisition will enhance Snap-on's Commercial & Industrial Group, expanding its tool control offerings across various sectors, including aerospace and automotive. The integration is set to begin in Snap-on's 2020 fiscal fourth quarter.