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Compared to Estimates, Snap-On (SNA) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2024, Snap-On (SNA - Free Report) reported revenue of $1.18 billion, down 1% over the same period last year. EPS came in at $4.91, compared to $4.89 in the year-ago quarter.
The reported revenue represents a surprise of -1.51% over the Zacks Consensus Estimate of $1.2 billion. With the consensus EPS estimate being $4.94, the EPS surprise was -0.61%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: -$129.40 million compared to the -$152.07 million average estimate based on five analysts. The reported number represents a change of -12.6% year over year.
Net Sales- Commercial & Industrial Group: $372 million versus $371.80 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.1% change.
Net Sales- Financial Services Revenue: $100.50 million compared to the $97.12 million average estimate based on five analysts. The reported number represents a change of +7.6% year over year.
Net Sales- Repair Systems & Information Group: $454.80 million versus the five-analyst average estimate of $470.33 million. The reported number represents a year-over-year change of +0.6%.
Net Sales- Snap-on Tools Group: $482 million compared to the $511.25 million average estimate based on five analysts. The reported number represents a change of -7.9% year over year.
Operating earnings / (losses)- Financial services: $70.20 million versus the four-analyst average estimate of $69.08 million.
Operating earnings / (losses)- Commercial & Industrial Group: $62.20 million versus the three-analyst average estimate of $58.28 million.
Operating earnings / (losses)- Corporate: -$10.30 million versus the three-analyst average estimate of -$23.21 million.
Operating earnings / (losses)- Snap-on Tools Group: $114.80 million versus $129.66 million estimated by three analysts on average.
Operating earnings / (losses)- Repair Systems & Information Group: $113.60 million versus $114.17 million estimated by three analysts on average.
Shares of Snap-On have returned +2.4% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Snap-On (SNA) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Snap-On (SNA - Free Report) reported revenue of $1.18 billion, down 1% over the same period last year. EPS came in at $4.91, compared to $4.89 in the year-ago quarter.
The reported revenue represents a surprise of -1.51% over the Zacks Consensus Estimate of $1.2 billion. With the consensus EPS estimate being $4.94, the EPS surprise was -0.61%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: -$129.40 million compared to the -$152.07 million average estimate based on five analysts. The reported number represents a change of -12.6% year over year.
- Net Sales- Commercial & Industrial Group: $372 million versus $371.80 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.1% change.
- Net Sales- Financial Services Revenue: $100.50 million compared to the $97.12 million average estimate based on five analysts. The reported number represents a change of +7.6% year over year.
- Net Sales- Repair Systems & Information Group: $454.80 million versus the five-analyst average estimate of $470.33 million. The reported number represents a year-over-year change of +0.6%.
- Net Sales- Snap-on Tools Group: $482 million compared to the $511.25 million average estimate based on five analysts. The reported number represents a change of -7.9% year over year.
- Operating earnings / (losses)- Financial services: $70.20 million versus the four-analyst average estimate of $69.08 million.
- Operating earnings / (losses)- Commercial & Industrial Group: $62.20 million versus the three-analyst average estimate of $58.28 million.
- Operating earnings / (losses)- Corporate: -$10.30 million versus the three-analyst average estimate of -$23.21 million.
- Operating earnings / (losses)- Snap-on Tools Group: $114.80 million versus $129.66 million estimated by three analysts on average.
- Operating earnings / (losses)- Repair Systems & Information Group: $113.60 million versus $114.17 million estimated by three analysts on average.
View all Key Company Metrics for Snap-On here>>>Shares of Snap-On have returned +2.4% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.