Snap-on said its full-year 2023 net sales were $4,730.2 million, an increase of $237.4 million (5.3%) from 2022. The company said organic growth of $250.7 million (5.6%) and $5.5 million of acquisition-related sales were partly offset by $18.8 million of unfavorable foreign currency translation.

1. 01

   Snap-on said its full-year 2023 net sales were $4,730.2 million, an increase of $237.4 million (5.3%) from 2022. The company said organic growth of $250.7 million (5.6%) and $5.5 million of acquisition-related sales were partly offset by $18.8 million of unfavorable foreign currency translation.

2. 02

   Snap-on said operating earnings before financial services were $1,039.9 million in 2023, up 10.5% from $941.2 million in 2022. Net earnings attributable to Snap-on were $1,011.1 million ($18.76 per diluted share) in 2022, compared with $911.7 million ($16.82 per share) a year earlier.

3. 03

   Snap-on said net cash provided by operating activities was $1,154.2 million in 2023, up $479.0 million from $675.2 million in 2022. The company cited changes in net operating assets and liabilities, $352.9 million, and higher net earnings, $100.7 million, as the main reasons.

4. 04

   Snap-on said it paid dividends of $355.6 million in 2023 and repurchased 1,126,000 shares at $294.7 million. It also said it acquired Mountz, Inc. on November 1, 2023 for a cash price of $39.6 million.

Key figures

Fiscal year ended December 30, 2023

Revenue

$4.7B

Operating income

$1.3B

Net income

$1.0B

EPS

$18.76

Operating cash flow

$1.2B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.