Snap-on (SNA) Reports Earnings Tomorrow: What To Expect
Professional tools and equipment manufacturer Snap-on (NYSE:SNA) will be reporting results tomorrow before market hours. Here’s what you need to know.
Snap-on beat analysts’ revenue expectations by 6.9% last quarter, reporting revenues of $1.28 billion, flat year on year. It was a mixed quarter for the company, with a miss of analysts’ organic revenue estimates.
Is Snap-on a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Snap-on’s revenue to decline 7.7% year on year to $1.16 billion, a reversal from the 5.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.59 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Snap-on has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 8.9% on average.
Looking at Snap-on’s peers in the industrial machinery segment, only Worthington has reported results so far. It missed analysts’ revenue estimates by 13.1%. The stock was down 5.5% on the results.
Read our full analysis of Worthington’s earnings results here.There has been positive sentiment among investors in the industrial machinery segment, with share prices up 3.4% on average over the last month. Snap-on is up 5.6% during the same time and is heading into earnings with an average analyst price target of $288.99 (compared to the current share price of $295.68).
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