Snap-on Q3 Profit Up, Beats Estimates - Quick Facts

(RTTNews) - Snap-on Inc. (SNA), a provider of industrial goods, Thursday reported a higher third quarter profit that exceeded the consensus estimates, reflecting a 5.8 percent increase in sales.

Net earnings attributable to Snap-on were $84.6 million or $1.43 per share, compared with $74.1 million or $1.26 per share last year. On average, four analysts polled by Thomson Reuters expected the company to report earnings per share of $1.42 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the three-month period increased to $753.2 million from prior year's $711.6 million. Analysts expected the company to generate revenues of $744.03 million for the quarter.

Looking forward, the company said: "Snap-on anticipates that capital expenditures in 2013 will approximate $75 million. Snap-on also expects that its full year 2013 effective income tax rate will be comparable to its 2012 rate."