Snap-on (SNA) Company Report

Snap-on leverages on-site customer connection and rapid continuous improvement across 85,000 SKUs, driving an average 85 bps annual increase in operating income margin over the past 15–17 years.
Q3 seasonality in the Tools Group stems from summer vacations and the annual Franchisee Conference, making Q3-over-Q2 growth atypical—only occurring two to three times under current leadership.
Diagnostics products delivered strong Q3 momentum, as their ability to improve repair speed and accuracy led to higher uptake, offsetting slower tool storage originations.
A predominantly domestic manufacturing footprint (36 factories, 15 in the U.S.) preserved a 50.9% gross margin through tariffs, though some C&I customers are delaying capital projects amid tariff uncertainty.
For 2026, Snap-on targets 4–6% sales growth with continued OI margin expansion, prioritizing internal investments (including AI), selective M&A, and has maintained an uninterrupted quarterly dividend since 1939.

Nov 12, 2025, 3:40 PM

Transcript

Snap-on reports Q3 2025 results

SNA

Earnings

Share Buyback

Dividends

Snap-on reported Q3 2025 net sales of $1,190.8 M, up 3.8% YoY (3% organic growth, $9 M favorable FX), with a 50.9% gross margin and an operating income margin of 23.4% (21.5% ex-legal benefit).
Third-quarter EPS was $5.02, or $4.71 adjusted to exclude a $0.31 per share legal settlement benefit, marking the highest-ever Q3 EPS.
By segment, C&I sales of $367.7 M declined 0.8% organically (15.6% OI margin); Tools Group sales of $506.0 M rose 1% organically (21.7% margin); RS&I sales of $464.8 M increased 8.9% organically (30.4% margin including legal benefit).
Financial Services revenue was $101.1 M (OI $68.9 M), and operating cash flow was $277.9 M, with $111.5 M dividends paid and $82.0 M in share repurchases during the quarter.

Oct 16, 2025, 2:00 PM

Transcript

Snap-on reports Q3 2025 earnings

SNA

Earnings

Consolidated net sales were $1,190.8 million, up 3.8%, with diluted EPS of $5.02, a 6.8% increase year-over-year.
Repair Systems & Information segment sales rose 10.0% to $464.8 million, with an operating margin of 30.4%, up 500 bps (including a $22.0 million legal settlement benefit).
Snap-on Tools and Commercial & Industrial posted modest sales gains of 1.1% and 0.5% to $506.0 million and $367.7 million, with operating margins of 21.7% and 15.6%, respectively.
Financial Services revenue was $101.1 million, up 0.7%, while originations declined 4.8% and operating earnings fell 3.9% to $68.9 million.
Operating cash flow totaled $277.9 million in Q3, generating $256.7 million of free cash flow.

Oct 16, 2025, 2:00 PM

Presentation

Snap-on reports Q3 2025 earnings results

SNA

Earnings

Share Buyback

Snap-on reported Q3 2025 net sales of $1,190.8 million, up 3.8% year-over-year (organic + 3.0%), with EPS of $5.02 and an operating margin of 23.4% (21.5% excl. $22 million legal benefit).
Segment results were mixed: CNI sales of $367.7 million (organic – 0.8%), Tools group sales of $506.0 million (+ 1.0% organic), and RS&I sales of $464.8 million (+ 8.9% organic).
RS&I achieved a segment operating margin of 30.4% (25.6% excl. legal settlement) driven by strong diagnostic software and OEM dealership growth.
Generated operating cash flow of $277.9 million, returned capital via $111.5 million in dividends, and repurchased $82 million of common stock (250,000 shares; $306 million remaining authorization).

Oct 16, 2025, 2:00 PM

Transcript

Snap-on reports Q3 2026 results

SNA

Earnings

Guidance Update

Snap-on delivered net sales of $1,190.8 million (up 3.8% YoY), with a gross margin of 50.9% and diluted EPS of $5.02 (including a $0.31 per-share legal settlement benefit) in Q3 2026.
Operating earnings before financial services were $278.5 million (23.4% of net sales vs. 22.0% last year), and consolidated operating earnings reached $347.4 million (26.9% of total revenues vs. 26.0% last year).
Repair Systems & Information Group posted $464.8 million in sales (8.9% organic growth) and operating earnings of $141.2 million (30.4% margin vs. 25.4% last year, including a $22 million legal settlement benefit).
Financial Services generated $101.1 million in revenue with $68.9 million in operating earnings and originations of $274.1 million (down 4.8% YoY).
Snap-on anticipates a full-year 2025 effective tax rate of 22–23% and approximately $100 million in capital expenditures (of which $62.5 million was spent in the first nine months).

Oct 16, 2025, 10:32 AM

8-K

Snap-on announces Third Quarter 2025 results

SNA

Earnings

Guidance Update

Snap-on reported Q3 net sales of $1,190.8 M, up 3.8% YoY, driven by a 3.0% organic sales gain.
Diluted EPS of $5.02, including a $0.31 per share legal settlement benefit, versus $4.70 in Q3 2024.
Operating earnings before financial services of $278.5 M (23.4% margin) and consolidated operating earnings of $347.4 M (26.9% margin).
Financial Services posted $101.1 M revenue and $68.9 M operating earnings, while originations fell 4.8% to $274.1 M.
Snap-on expects 2025 capital expenditures of ≈$100 M and a full-year effective tax rate of 22–23%.

Oct 16, 2025, 10:30 AM

Press Release

Snap-On reports lower Q2 profit and flat revenue

SNA

Earnings

Snap-On reported $250.3 million in Q2 profit, down from $271.2 million a year earlier.
Q2 revenue was flat at $1.18 billion, slightly above analyst expectations.
EPS of $4.72 beat the consensus of $4.63 per share.
A 0.7% organic sales decline of $8.6 million was fully offset by favorable foreign currency translation.
The company remains optimistic about growth in 2025, while analysts maintain a ‘Hold’ rating with a $333.19 price target.

Jul 17, 2025, 10:46 AM

Morningstar

Snap-On: Special Conference Call Overview

SNA

New Projects/Investments

Snap-On Inc highlighted its legacy as a 105-year-old company with a vertically integrated model, operating in diversified segments such as tools, shop equipment, and critical commercial/industrial products.
Management discussed its competitive advantages and strategic pivot toward quicker payback products amid weaker consumer sentiment and tariff uncertainties.
The call also emphasized a strong balance sheet with prioritized capital allocation through reinvestment, dividends, and share buybacks, alongside growth prospects in evolving automotive technologies and critical industries.

May 13, 2025, 6:11 PM

Transcript

Snap-On Inc Conference Call Overview

SNA

Dividends

M&A

Market Leadership & Customer Proximity: Snap-On emphasized its role as the premier tool company through close customer engagement in critical work environments, highlighting its presence in automotive, aviation, heavy-duty, and other sectors.
Product Pivot & RS&I Resilience: Management discussed shifting its product mix toward shorter payback diagnostic and software solutions, noting robust growth in its RS&I segment despite broader market uncertainty.
Liquidity & Capital Allocation: The call underscored a strong liquidity position with $1.4B in cash and a long dividend history since 1939, along with readiness for bolt-on acquisitions and share buybacks.

May 7, 2025, 2:31 PM

Transcript

Snap-on Announces Q1 2025 Results

SNA

Earnings

Guidance Update

Demand Weakening

Snap-on reported net sales of $1,141.1 million and diluted EPS of $4.51 for the first quarter, noting a decline of $41.2 million (3.5%) from the prior year due to lower organic sales and unfavorable currency effects.
Operating earnings before financial services were $243.1 million (21.3% of net sales), while consolidated operating earnings fell to $313.4 million, reflecting mixed performance amidst heightened economic uncertainty.
The company highlighted robust performance in select segments and announced plans for approximately $100 million in capital expenditures for 2025, indicating ongoing investments despite market headwinds.

Apr 17, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for Snap-on.

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