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Compared to Estimates, Snap-On (SNA) Q3 Earnings: A Look at Key Metrics
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Snap-On (SNA - Free Report) reported $1.16 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.2%. EPS of $4.51 for the same period compares to $4.14 a year ago.
The reported revenue represents a surprise of +1.80% over the Zacks Consensus Estimate of $1.14 billion. With the consensus EPS estimate being $4.39, the EPS surprise was +2.73%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: -$154.30 million versus the four-analyst average estimate of -$170.21 million. The reported number represents a year-over-year change of -6.4%.
Net sales- Commercial & Industrial Group: $366.40 million versus $368.14 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.7% change.
Net sales- Financial Services Revenue: $94.90 million compared to the $91.83 million average estimate based on four analysts. The reported number represents a change of +8.7% year over year.
Net sales- Repair Systems & Information Group: $431.80 million versus the four-analyst average estimate of $432.66 million. The reported number represents a year-over-year change of +4.3%.
Net sales- Snap-on Tools Group: $515.40 million versus $511.45 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.8% change.
Operating earnings / (losses)- Snap-on Tools Group: $113.40 million versus $114.25 million estimated by three analysts on average.
Operating earnings / (losses)- Commercial & Industrial Group: $58.10 million compared to the $54.83 million average estimate based on three analysts.
Operating earnings / (losses)- Corporate: -$31.20 million versus the three-analyst average estimate of -$29.33 million.
Operating earnings / (losses)- Financial services: $69.40 million compared to the $67.70 million average estimate based on three analysts.
Operating earnings / (losses)- Repair Systems & Information Group: $104.90 million versus the three-analyst average estimate of $101.28 million.
Shares of Snap-On have returned -2.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Snap-On (SNA) Q3 Earnings: A Look at Key Metrics
Snap-On (SNA - Free Report) reported $1.16 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 5.2%. EPS of $4.51 for the same period compares to $4.14 a year ago.
The reported revenue represents a surprise of +1.80% over the Zacks Consensus Estimate of $1.14 billion. With the consensus EPS estimate being $4.39, the EPS surprise was +2.73%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: -$154.30 million versus the four-analyst average estimate of -$170.21 million. The reported number represents a year-over-year change of -6.4%.
- Net sales- Commercial & Industrial Group: $366.40 million versus $368.14 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.7% change.
- Net sales- Financial Services Revenue: $94.90 million compared to the $91.83 million average estimate based on four analysts. The reported number represents a change of +8.7% year over year.
- Net sales- Repair Systems & Information Group: $431.80 million versus the four-analyst average estimate of $432.66 million. The reported number represents a year-over-year change of +4.3%.
- Net sales- Snap-on Tools Group: $515.40 million versus $511.45 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +3.8% change.
- Operating earnings / (losses)- Snap-on Tools Group: $113.40 million versus $114.25 million estimated by three analysts on average.
- Operating earnings / (losses)- Commercial & Industrial Group: $58.10 million compared to the $54.83 million average estimate based on three analysts.
- Operating earnings / (losses)- Corporate: -$31.20 million versus the three-analyst average estimate of -$29.33 million.
- Operating earnings / (losses)- Financial services: $69.40 million compared to the $67.70 million average estimate based on three analysts.
- Operating earnings / (losses)- Repair Systems & Information Group: $104.90 million versus the three-analyst average estimate of $101.28 million.
View all Key Company Metrics for Snap-On here>>>Shares of Snap-On have returned -2.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.