Snap-on Incorporated Reports Earnings Results for the Third Quarter and Nine Months Ended October 01, 2022
October 20, 2022 at 06:30 am EDT
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Snap-on Incorporated reported earnings results for the third quarter and nine months ended October 01, 2022. For the third quarter, the company reported sales was USD 1,102.5 million compared to USD 1,037.7 million a year ago. Net income was USD 223.9 million compared to USD 196.2 million a year ago. Basic earnings per share from continuing operations was USD 4.21 compared to USD 3.65 a year ago. Diluted earnings per share from continuing operations was USD 4.14 compared to USD 3.57 a year ago.
For the nine months, sales was USD 3,336.9 million compared to USD 3,143.7 million a year ago. Net income was USD 672.8 million compared to USD 596.8 million a year ago. Basic earnings per share from continuing operations was USD 12.62 compared to USD 11.05 a year ago. Diluted earnings per share from continuing operations was USD 12.41 compared to USD 10.83 a year ago.
Snap-On Incorporated specializes in manufacturing and marketing of tools and diagnostic equipment for professionals in transportation, industry, agriculture, aviation and government sectors. Income breaks down by activity as follows:
- sale of tooling (49.5%): hand tools (wrenches, screwdriver, sockets, pliers, saws, etc.), power tools (burin, sanders, polishers, etc.), cutters, tools for cutting and pruning, tools storage products, etc.;
- sale of industrial equipment (23.8%): parallelism of wheels measurement system, wheel balancing, tire changers, vehicle hoist, battery chargers, etc.;
- sale of diagnostic materials and software (19.5%);
- financial services (7.2%).
Income breaks down geographically as follows: the United States (71.6%), Europe (14.9%) and other (13.5%).
SNAP-ON INCORPORATED 
