Q3 2018 reported diluted EPS of $2.85, including $0.03 charge related to U.S. tax legislation, up 24.5% from Q3 2017;
Q3 2018 adjusted diluted EPS of $2.88 up 17.6% from Q3 2017;
Q3 2018 operating margin before financial services up 240 basis points on a reported basis and 70 basis points on an adjusted basis, respectively, from Q3 2017
“Our third quarter results demonstrated encouraging progress on a number of fronts, including higher operating margins and net earnings, broad-based organic sales growth in our Commercial & Industrial Group and incremental improvement in organic sales trends in the Snap-on Tools Group, driven by higher year over year sales in the U.S. franchise operations,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “While we experienced sales turbulence in our Repair Systems & Information Group this quarter, we believe the vehicle repair markets in which we operate remain robust and afford ongoing opportunity. At the same time, in addition to ongoing improvement in earnings and margins, the benefits of our Snap-on Value Creation Processes continue to be realized in a variety of ways. Snap-on was honored again this year with product awards from both MOTOR Magazine and Professional Tool & Equipment News, demonstrating our deep understanding of work through connecting with customers and then translating the insights gained into winning innovations. Finally, our progress in the third quarter would not have been possible without the capability and commitment of our franchisees and associates, and I thank them for their dedication and their contributions.”
News Release
