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 Inc (NYSE: SNA) is a global innovator in premium tools, diagnostic equipment, and repair solutions serving professional technicians across automotive and industrial sectors. This news hub provides investors and industry stakeholders with centralized access to official announcements and strategic developments.
Track Snap-On's latest earnings reports, product innovations, and partnership announcements through verified press releases. Our curated collection focuses on operational milestones including advancements in diagnostic technologies, franchise network expansions, and financial performance updates.
Key news categories include quarterly financial results, new product launches, strategic collaborations, and industry recognition. Discover updates about Snap-On's mobile van network operations, specialty tool developments, and initiatives supporting professional repair technicians worldwide.
Bookmark this page for ongoing access to Snap-On's corporate communications. Check back regularly for essential updates impacting the company's position in professional tool manufacturing and vehicle repair ecosystems.
Snap-on Incorporated (NYSE: SNA) has announced that it will release its 2023 second quarter and six-month results before the market opens on Thursday, July 20, 2023. The company will host a conference call to discuss the results at 10:00 a.m. ET on the same day. The call will be webcast live on the Internet, including audio and accompanying slides.
Interested parties can access the webcast by visiting https://www.snapon.com/EN/Investors/Investor-Events and clicking on the webcast link. The quarterly release and presentation slides will be available for download under the Downloads tab in the webcast viewer and on the Snap-on website. An archived replay of the webcast will be accessible on the website for at least one week following the call.
Snap-on reported first-quarter 2023 net sales of $1,183.0 million, showing a 7.8% increase from Q1 2022. Organic sales rose by 10.2%, despite a $24.0 million negative impact from foreign currency translation. Operating earnings before financial services reached $259.8 million, translating to an operating margin of 22.0%, up 170 basis points. Diluted EPS was $4.60, a 15.0% increase year-over-year. Financial services revenue grew to $92.6 million, with a dip in operating earnings to $66.3 million. The company plans approximately $100 million in capital expenditures for 2023. Overall, Snap-on demonstrates resilience and growth potential across its key markets.
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