Net sales rise 8.4% for Snap-on in 3Q

Freeman Staff

Oct. 20, 2017

KENOSHA — The end of the third quarter saw positive financial news for Snap-on Incorporated, a global innovator, manufacturer and marketer of tools and systems solutions in Kenosha.

According to the announcement Thursday, the company had net sales of $903.8 million in the third quarter, which is an increase of $69.7 million, or 8.4 percent, from the third quarter of 2016, reflecting a $19.5 million, or 2.3 percent, organic sales gain, $44.3 million of acquisition-related sales and $5.9 million of favorable foreign currency translation.

“We’re encouraged that in the third quarter we increased both sales and net earnings through our steadfast commitment to our runways for growth and improvement, despite challenges on a variety of fronts, including the recent hurricanes,” said Nick Pinchuk, Snap-on chairman and chief executive officer, in a statement.

During the third quarter, consolidated operating earnings were $209.1 million, or 21.3 percent of revenues (net sales plus financial services revenue), compared to $208.2 million, or 23 percent of revenues, during the third quarter of 2016.