Snap-on falls after Q3 miss as diesel prices hit tool sales
-3.37% to $356.46 from $368.91
What moved SNA
- Snap-on reported net sales of $1,183.7 million, down 0.6% year-over-year, with organic sales down 2.8%, missing analyst estimates.
- The Tools Group’s organic sales fell 7.0%, as rising diesel prices prompted franchisees in the mobile van channel to reduce inventories despite stable demand from technicians.
- The Commercial & Industrial Group was a bright spot, with sales up 10.0% to $404.3 million, including 7.4% organic growth.
- Net earnings fell to $243.0 million, or $4.64 per diluted share, from $265.4 million, or $5.02 per share, a year earlier, when results included a legal settlement benefit.
Sources: Investing.com · Benzinga · TradingView News