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ACCESSWIRE
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Active-Investors: Free Post Earnings Research Report: Snap-on's Quarterly Sales Jumped 9.5%; Adjusted EPS Climbed 8%

LONDON, UK / ACCESSWIRE / March 13, 2018 / Active-Investors.com has just released a free earnings report on Snap-on Inc. (NYSE: SNA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=SNA. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 08, 2018. The tool and diagnostic equipment maker outperformed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Snap-on most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=SNA

Earnings Highlights and Summary

For the fourth quarter of the fiscal year 2017, Snap-on's net sales grew 9.5% to $974.6 million compared to $889.8 million in Q4 2016; reflecting a $38.9 million, or 4.3%, organic sales gain, $29.7 million of acquisition-related sales, and $16.2 million of favorable foreign currency translation. The Company's net sales growth of 9.5%, or 4.3% organically, during the reported quarter, was the highest of any quarter in 2017. Snap-on's revenue numbers topped analysts' estimates of $941.6 million.

During Q4 2017, Snap-on's consolidated operating earnings were $212.1 million, or 20.1% of revenues, and included a pre-tax charge related to a judgment (legal charge) of $30.9 million in a patent-related litigation matter that is being appealed, compared to operating earnings of $227.7 million, or 23.6% of revenues, in Q4 2016. The Company's adjusted consolidated operating earnings were $243.0 million, or 23.0% of revenues, in the reported quarter.

Snap-on's net earnings were $129.5 million, or $2.24 per diluted share, in Q4 2017 compared to $146.3 million, or $2.47 per diluted share, in Q4 2017. The Company's adjusted earnings were $2.69 per diluted share in the reported quarter, up 8% compared to $2.49 in the prior year's same quarter, and were ahead of Wall Street's estimates of $2.66 per share.

For the full year FY17, Snap-on's net sales grew 7.5% to $3.69 billion compared to $3.43 billion in FY16, reflecting a $115.0 million, or 3.4%, organic sales gain, and $141.5 million of acquisition-related sales.

Snap-on's net earnings were $557.7 million, or $9.52 per diluted share, in FY17 compared to $546.4 million, or $9.20 per diluted share, in FY16. Excluding the legal and tax charge, the Company's net earnings, as adjusted, were $593.1 million, or $10.12 per diluted share, in FY17.

Segment Results

During Q4 2017, Snap-on's Commercial & Industrial Group segment's sales jumped 19.4% to $341.7 million compared to $286.3 million in Q4 2016, reflecting a $29.5 million, or 10.1%, organic sales gain, $19.1 million of acquisition-related sales, and $6.8 million of favorable foreign currency translation. The organic sales increase primarily includes higher sales to customers in critical industries, as well as gains in the segment's European-based hand tools business, power tools business, and Asia/Pacific operations. For the reported quarter, the segment's operating earnings totaled $50.9 million, reflecting a growth of 16% versus $43.9 million in the prior year's comparable quarter.

During Q4 2017, Snap-on's Tools Group segment's sales fell 2.0% to $409.2 million compared to $417.5 million, reflecting a $12.6 million, or 3.0%, organic sales decline, partially offset by $4.3 million of favorable foreign currency translation. The segment's operating earnings decreased 8% to $67.3 million in the reported period from $73.5 million in the year ago corresponding period.

For Q4 2017, Snap-on's Repair Systems & Information Group segment's sales advanced 11.6% to $356.8 million compared to $319.8 million in Q4 2016; reflecting a $20.2 million, or 6.2%, organic sales gain, $10.6 million of acquisition-related sales, and $6.2 million of favorable foreign currency translation. The organic sales gain includes increased sales to OEM dealerships and higher sales of diagnostics and repair information products to independent repair shop owners and managers. The segment's operating earnings totaled $89.8 million in the reported quarter, up 9% versus $82.5 million in the year earlier same quarter.

During Q4 2017, Snap-on's Financial Services segment reported operating earnings of $54.4 million on revenues of $79.9 million compared to operating earnings of $51.6 million on revenues of $74.2 million in Q4 2016.

Outlook

For the full fiscal year 2018, Snap-on expects capital expenditure to be in the range of $90 million to $100 million. As a result of the recently-enacted tax legislation in the US, Snap-on currently anticipates that its effective income tax rate will be in the band of 24% to 25% in FY18.

Stock Performance Snapshot

March 12, 2018 - At Monday's closing bell, Snap-on's stock declined 1.25%, ending the trading session at $151.47.

Volume traded for the day: 1.60 million shares, which was above the 3-month average volume of 666.75 thousand shares.

Stock performance in the previous six-month period - up 3.04%

After yesterday's close, Snap-on's market cap was at $8.67 billion.

Price to Earnings (P/E) ratio was at 15.72.

The stock has a dividend yield of 2.17%.

The stock is part of the Industrial Goods sector, categorized under the Small Tools & Accessories industry.

Active-Investors:

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A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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SOURCE: Active-Investors

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