Snap-On (SNA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Snap-On (SNA) reported $1.19 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 4.8%. EPS of $4.89 for the same period compares to $4.27 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.18 billion, representing a surprise of +0.59%. The company delivered an EPS surprise of +7.95%, with the consensus EPS estimate being $4.53.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Snap-On performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net sales- Intersegment eliminations: -$148 million versus the four-analyst average estimate of -$170.40 million. The reported number represents a year-over-year change of -7.4%.
Net sales- Commercial & Industrial Group: $364.20 million versus $369.46 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.4% change.
Net sales- Snap-on Tools Group: $523.10 million compared to the $547.67 million average estimate based on four analysts. The reported number represents a change of +0.5% year over year.
Net sales- Repair Systems & Information Group: $452 million compared to the $437.70 million average estimate based on four analysts. The reported number represents a change of +8.5% year over year.
Net sales- Financial Services Revenue: $93.40 million compared to the $89.50 million average estimate based on three analysts. The reported number represents a change of +8.1% year over year.
Operating earnings / (losses)- Snap-on Tools Group: $137.70 million versus the three-analyst average estimate of $104.21 million.
Operating earnings / (losses)- Commercial & Industrial Group: $58.10 million versus $55.20 million estimated by three analysts on average.
Operating earnings / (losses)- Corporate: -$29.20 million versus -$27.76 million estimated by three analysts on average.
Operating earnings / (losses)- Financial services: $66.90 million compared to the $66.18 million average estimate based on three analysts.
Operating earnings / (losses)- Repair Systems & Information Group: $110.40 million compared to the $105.62 million average estimate based on three analysts.
View all Key Company Metrics for Snap-On here>>>
Shares of Snap-On have returned +7.9% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Snap-On Incorporated (SNA) : Free Stock Analysis Report
