Snap-on Q2 Profit Climbs, Above Consensus Estimates - Quick Facts

(RTTNews) - Snap-on Incorporated (SNA), a provider of tools, equipment, diagnostics, and repair information and systems solutions, Thursday reported an increase in net income, on the back of higher revenues, and beat the Street estimates. For the three-month period, the company reported net earnings of $88.4 million or $1.50 per share, compared with $76.4 million or $1.30 per share during the corresponding quarter last year.

On average, five analysts polled by Thomson Reuters expected earnings per share of $1.45 for the second quarter. Analysts' estimates typically exclude one-time items.

The company logged sales of $764.1 million compared with $737.9 million last year. The Street estimated the company to generate revenues of $758.08 million. Excluding $4.7 million of unfavorable foreign currency translation and $8.5 million of sales from the previously announced acquisition of Challenger Lifts, Inc., organic sales increased 3.1 percent.

"...Our recent acquisition of Challenger Lifts in the second quarter broadens our established capabilities and furthers our advancement along the growth runway of expanding with repair shop owners and managers..," said Nick Pinchuk, chairman and chief executive officer.