Snap-on earnings soar


Kenosha-based Snap-on Inc. today reported third quarter net earnings of $106.4 million, or $1.76 per share, up from $87 million, or $1.43 per share, in the third quarter of 2013.

Revenue was $806.3 million, up 7 percent from $753.2 million in the same period a year ago.

Snap-on, which manufactures tools, equipment, diagnostics, repair information and systems solutions for professionals, reported commercial and industrial group segment sales of $298.8 million, up 8.6 percent from 2013, mainly due to higher European and critical industries sales volume. And Snap-on tools group segment sales of $355 million, up 6.4 percent over last year, mainly through organic sales growth.

- Advertisement -

“We were encouraged by our third quarter results that demonstrate ongoing progress along Snap-on’s runways for both coherent growth and improvement, as solid organic sales gains across all operating segments were accompanied by a 23.1 percent increase in earnings per share,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “In the third quarter, Snap-on was honored to again receive product awards from both MOTOR Magazine and Professional Tool & Equipment News. We believe this recognition reflects Snap-on’s capabilities in translating our deep understanding of professionals’ work into winning innovations. Finally, our results and progress reflect a tremendous dedication and effort all across Snap-on. In that regard, I thank our franchisees and associates worldwide for their commitment and their contributions.”

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

What's New


Sponsored Content


Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
BizTimes Milwaukee