Snap-on Q1 Earnings Rise

(RTTNews) - Snap-on Inc. (SNA), a provider of industrial goods, said its net earnings for the first quarter rose to $95.9 million or $1.62 per share from last year's $82.8 million or $1.40 per share. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $1.54 for the quarter. Analysts' estimates typically exclude one-time items.

First-quarter sales grew more than 6 percent to $787.5 million. Organic sales increased 5.0 percent, excluding $15.2 million of acquisition-related sales and $5.9 million of unfavorable foreign currency translation. Analysts estimated revenues of $781.20 million for the quarter.

Operating earnings before financial services grew 15.5 percent to $121.7 million.