Snap-on Posts $243M Third-Quarter Net Income
SNA is trading near its 52-week low of $320.8 (14% above the low).
Summary
Snap-on reported third-quarter net income of $243 million, with EPS of $4.64 and revenue of $1.28 billion. The EPS compares with Q2's $4.96, and the revenue figure supplies the top line the bottom-line-only headline lacked. For a roughly $19 billion industrial tools maker, $243M in quarterly net income is in line with the recent run rate, so the number itself isn't a shock. The margin picture is still open: the 51.4% gross margin from Q2 has no third-quarter counterpart yet, so whether the margin improvement from Q2 carried through isn't settled. Watch for the complete statement with segment detail to see whether the 4.7% sales growth from Q2 carried through.
At the time of this announcement, SNA was trading at $367.11 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $19.1B. The 52-week trading range was $320.80 to $423.02. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.