Q2 2018

Snap-on Announces Second Quarter 2018 Results

Diluted EPS of $3.12 up 20%;

Non-GAAP adjusted diluted EPS of $3.11 excludes $0.01 benefit related to U.S. tax legislation;

Operating margin before financial services of 20.2% up 30 basis points;

Reported net sales of $954.6 million up 3.6%;

Organic net sales up 1.3%.
“Our second quarter 2018 results demonstrated encouraging progress along our defined runways for growth and improvement,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “Net sales growth in our Commercial and Industrial Group reflects the strength of Snap-on’s value proposition of making work easier for serious professionals in critical industries beyond vehicle repair. In our businesses serving vehicle repair, the Repair Systems and Information Group again realized strong sales of diagnostics and repair information products resulting from both successful new product launches and industry tailwinds, and we did make some progress in overcoming our challenges in the Snap-on Tools Group. We believe the overall macro-economic environment for the vehicle repair and critical industries markets we serve generally remains robust and affords significant ongoing opportunities. Our commitment to our Snap-on Value Creation Processes helped drive a 30 basis point improvement in operating margin before financial services and, coupled with benefits of the new tax legislation in the United States, a 20% year-over-year increase in earnings per diluted share. Finally, our results are only possible with the significant effort and contributions from our franchisees and associates worldwide; I thank them for their ongoing dedication and commitment.”

https://www.snapon.com/Snap-on-Files/Investors/2018-Q2/Q22018Earnings.pdf
Snap-on Announces Second Quarter 2018 Results | Business Wire