Welcome to our dedicated page for Snap-on Incorporated news (Ticker: SNA), a resource for investors and traders seeking the latest updates and insights on Snap-on Incorporated stock.
Snap-on Incorporated (symbol: SNA) is a leading global innovator, manufacturer, and marketer of tools, equipment, diagnostics, repair information, and system solutions for professional users performing critical tasks. Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap-on has grown into a $3.4 billion S&P 500 company. This multinational corporation specializes in crafting hand and power tools, tool storage solutions, and diagnostics software. Their offerings also include information and management systems, shop equipment, and other solutions for vehicle dealerships and repair centers. In addition to the automotive sector, Snap-on serves a diverse range of industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.
Snap-on's products are distributed through multiple channels, including a franchisee-operated network of mobile vans, company-direct sales, distributors, and the internet. The franchisee model is unique; franchisees invest in mobile vans, inventories, and software, and extend personal credit to technicians. This approach allows Snap-on to reach auto technicians who purchase tools at their own expense.
The company operates through three primary segments: repair systems and information, commercial and industrial, and tools. Their finance arm provides financial solutions to support franchisees, offering loans and leases for mobile vans and other operational needs.
Over recent years, Snap-on has achieved significant milestones, including advancements in their diagnostics software and the expansion of their product line to meet evolving industry demands. Their commitment to innovation and quality has solidified their reputation as a trusted name in professional tools and equipment.
Financially, Snap-on remains robust, continuing to invest in research and development to maintain their competitive edge. The company's strategic partnerships and continued focus on customer satisfaction drive their sustained growth and industry leadership.
Snap-on (NYSE: SNA) announced a 15.1% increase in its quarterly dividend to $2.14 per share, up from $1.86, payable December 10, 2024, to shareholders of record as of November 21, 2024. This marks the company's 15th consecutive annual dividend increase, maintaining an uninterrupted dividend payment streak since 1939. The company, which generated sales of $4.7 billion in 2023, emphasizes this increase reflects their strong financial position, robust cash generation, and commitment to shareholder value while supporting strategic investments and acquisitions.
Snap-on Incorporated (NYSE: SNA) reported its Q3 2024 results, showing resilience amid challenging times. Key highlights include:
- Diluted EPS of $4.70, up 4.2% from Q3 2023
- Operating margin before financial services increased 80 basis points to 22.0%
- Net sales of $1,147.0 million, down 1.1% from last year
- Organic sales decline of 1.7%
- Financial services revenue of $100.4 million, up from $94.9 million in 2023
- Net earnings of $251.1 million, compared to $243.1 million a year ago
The company maintained investments in product, brand, and people, which they believe will strengthen their advantages and drive future progress.
Snap-on Incorporated (NYSE: SNA) has announced that it will release its 2024 third quarter results before the market opens on Thursday, October 17, 2024. The company will host a conference call to discuss the results at 10:00 a.m. ET on the same day. Investors and interested parties can access the live webcast of the call, including audio and accompanying slides, by visiting the company's website at https://www.snapon.com/EN/Investors/Investor-Events.
The quarterly release and presentation slides will be available for download under the Downloads tab in the webcast viewer and on Snap-on's website. For those unable to attend the live event, an archived replay of the webcast will be accessible on the company's website for at least one week following the call.
Snap-on Incorporated (NYSE: SNA) is set to participate in CL King's 22nd Annual Best Ideas Conference on Monday, September 16, 2024, at 10:15 AM Eastern Time / 9:15 AM Central Time. Investors and interested parties can access the live webcast through the provided link or via the Investor Events page on Snap-on's official website.
The presentation offers an opportunity for stakeholders to gain insights into Snap-on's current strategies and future outlook. Following the live event, an archived replay will be available on the company's website for 90 days, allowing those unable to attend the live session to review the presentation at their convenience.
Snap-on Incorporated (NYSE: SNA) has announced a quarterly common stock dividend of $1.86 per share, payable on September 10, 2024, to shareholders of record as of August 19, 2024. The company has maintained uninterrupted quarterly dividends since 1939. Additionally, Snap-on's board has authorized a new $500 million share repurchase program, replacing the current program with approximately $260 million remaining. This move, along with an existing program allowing repurchases equal to shares issued under equity plans, underscores Snap-on's commitment to shareholder value. CEO Nick Pinchuk emphasized the company's strong financial position and cash generation, enabling both shareholder returns and strategic investments. Snap-on, an S&P 500 company, reported sales of $4.7 billion in 2023 and is a leading innovator in professional tools and equipment.
Snap-on Incorporated (NYSE: SNA) reported Q2 2024 results with diluted EPS of $5.07, including a $0.16 per share benefit from legal payments, compared to $4.89 in Q2 2023. Net sales decreased by 1.0% to $1,179.4 million, reflecting a 1.1% organic sales decline and unfavorable foreign currency translation. Operating margin before financial services improved to 23.8% from 23.3% last year. The company saw growth in critical industries and increased activity with OEM dealerships, while experiencing declines in the Snap-on Tools segment. Financial services revenue increased to $100.5 million. Snap-on expects ongoing progress in its growth initiatives and projects 2024 capital expenditures of $100-110 million, with a full-year effective income tax rate of 22-23%.
Snap-on will announce its Q2 2024 financial results before market open on July 18, 2024. A conference call will be held at 10:00 a.m. ET to discuss these results. The call and slides will be webcast live on Snap-on's investor relations website, with an archived replay available for a week.
Snap-on Incorporated (NYSE: SNA) will be presenting at the Oppenheimer 19th Annual Industrial Growth Conference on May 7, 2024. The live webcast details are available for investors to access, with an archived replay available for 90 days after the event.
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