Benzinga | Jul 31, 2020 07:29AM EDT

Recap: Snap-on Q2 Earnings

Shares of Snap-on (NYSE:SNA) were flat in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 40.68% year over year to $1.91, which beat the estimate of $1.83.

Revenue of $724,300,000 declined by 23.86% year over year, which beat the estimate of $704,970,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Snap-on hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Jul 31, 2020

Time: 10:00 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/wqhru6v2

Recent Stock Performance

52-week high: $172.61

Company's 52-week low was at $90.72

Price action over last quarter: Up 27.73%

Company Overview

Snap-on is a manufacturer of premium tools and software for professional technicians. Hand tools are sold through franchisee-operated mobile vans that serve auto technicians who purchase tools at their own expense. A unique element of its business model is that franchisees bear significant risk, as they must invest as much as $375,000 in the van, inventory, and software. At the same time, franchisees extend personal credit directly to technicians on an individual tool basis. Snap-on currently operates three segments--repair systems and information, commercial and industrial, and tools--which accounted for 31%, 38%, and 31%, respectively, of its $3.7 billion 2018 manufacturing revenue. Its financing arm generates 8% of consolidated revenue and 24% of operating income.