Snap-on Q2 Profit, Revenue Up - Quick Facts

(RTTNews) - Snap-on Inc. (SNA), a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, Thursday said its second-quarter attributable net earnings rose to $120.0 million, or $2.03 per share, from $106.1 million, or $1.80 per share, a year ago.

On average, five analysts polled by Thomson Reuters expected earnings of $2.00 per share for the quarter. Analysts' estimates typically exclude special items.

Sales grew 3.1 percent to $851.8 million from $826.5 million. Analysts expected revenues of $864.52 million.

Excluding $43.4 million of unfavorable foreign currency translation and $2.8 million of acquisition-related sales, organic sales increased 8.4 percent.

Nick Pinchuk, Snap-on chairman and CEO, said, "We're encouraged by the ongoing progress reflected in our second quarter results, including 8.4% organic sales growth, a 17.7% operating margin before financial services, representing a 100 basis point improvement, and a 12.8% increase in diluted earnings per share."