Snap-On reports Q3 EPS $4.70, consensus $4.59

Reports Q3 revenue $1.15B, consensus $1.16B. “We’re encouraged by our third quarter 2024 results as our businesses remained strong, yielding a balanced outcome and delivering profitability gains in these challenging times,” said CEO Nick Pinchuk. “We believe that our performance demonstrates our ability to harness the possibilities across our segments, countering the headwinds and pivoting to match the environment as is evident in the resilience displayed by the Tools Group during the period. At the same time, we are vigorously engaging our Snap-on Value Creation Processes to maintain and increase our operating momentum. In that regard, we were again honored with product awards from both Motor Magazine and Professional Tool & Equipment News. In the quarter, a continuous array of new innovations combined with our robust efforts in Rapid Continuous Improvement to drive broad margin gains achieved against the turbulence. Notably, we’ve maintained our investment in product, brand and people…a decisive action that we believe will strengthen our already substantial advantages, authoring continuing progress as we move forward.”