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Dec 31, 2023
Snap-on Q4 2023 Earnings Report
Snap-on's Q4 2023 performance reflected growth and strategic advancements.
Key Takeaways
Snap-on reported a 3.5% increase in net sales for Q4 2023, reaching $1,196.6 million, with diluted EPS of $4.75, a 7.5% increase from Q4 2022. The company's Commercial & Industrial Group saw growth, while the Snap-on Tools Group experienced a slight sales decline. The acquisition of Mountz, Inc. expanded the product offering for critical industries.
Net sales increased by 3.5% to $1,196.6 million, with organic sales up 2.2%.
Diluted EPS rose to $4.75, a 7.5% increase compared to Q4 2022.
Operating earnings before financial services were $257.9 million, representing 21.6% of net sales.
The acquisition of Mountz, Inc. expanded the company's product offerings for critical industries.
Revenue by Segment
Forward Guidance
Snap-on anticipates ongoing advancement along its growth paths in 2024, utilizing established skills in automotive repair and broadening its customer base across various markets and geographies, including vital industries.
Positive Outlook
- Ongoing progress along defined runways for coherent growth
- Leveraging capabilities already demonstrated in the automotive repair arena
- Developing and expanding its professional customer base
- Extending in critical industries where the cost and penalties for failure can be high
- Capital expenditures in 2024 projected to be in the range of $100 million to $110 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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