AI English summary of an SEC filing — figures as filed
Snap-on SNASnap-on said net sales for Q2 2024 were $1,179.4 million, down $11.9 million (1.0%) from a year earlier. The company cited an organic decline of 1.1% ($13.5 million) and $5.7 million of unfavorable foreign currency translation, partially offset by $7.3 million of acquisition-related sales.
Key points
AI summarySnap-on said net sales for Q2 2024 were $1,179.4 million, down $11.9 million (1.0%) from a year earlier. The company cited an organic decline of 1.1% ($13.5 million) and $5.7 million of unfavorable foreign currency translation, partially offset by $7.3 million of acquisition-related sales.
Snap-on said net earnings attributable to Snap-on Inc. for Q2 2024 were $271.2 million ($5.07 per diluted share), including an after-tax benefit of $8.7 million ($0.16 per diluted share) from the final payments received on a legal matter. A year earlier, net earnings were $264.0 million ($4.89 per diluted share).
The company said segment net sales for the Snap-on Tools Group in Q2 were $482.0 million, down 7.9%, and segment operating earnings were $114.8 million, down 16.6% from $137.7 million a year earlier. It attributed the organic decline to a high single-digit decrease in the U.S.
Snap-on said net cash provided by operating activities for the first 6 months of 2024 was $649.8 million ($571.9 million in the same period a year earlier), and cash and cash equivalents as of June 29, 2024 were $1,232.7 million, up $231.2 million from the end of 2023.
Key figures
Quarter ended June 29, 2024
- Revenue
- $1.2B
- Operating income
- $351M
- Net income
- $271M
- EPS
- $5.07
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis 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.
Snap-on Quarterly Net Sales Fall $1,179.4 million, Down 1.0% in Q2
Snap-on said net sales for Q2 2024 were $1,179.4 million, down $11.9 million (1.0%) from a year earlier. The company cited an organic decline of 1.1% ($13.5 million) and $5.7 million of unfavorable foreign currency translation, partially offset by $7.3 million of acquisition-related sales.
Source · Based on the MD&A text of the filing
Snap-on Net Earnings Attributable to Snap-on Inc. $271.2 million in Q2
Snap-on said net earnings attributable to Snap-on Inc. for Q2 2024 were $271.2 million ($5.07 per diluted share), including an after-tax benefit of $8.7 million ($0.16 per diluted share) from the final payments received on a legal matter. A year earlier, net earnings were $264.0 million ($4.89 per diluted share).
Source · Based on the MD&A text of the filing
Snap-on Tools Group Sales and Operating Earnings Decline in Q2
The company said segment net sales for the Snap-on Tools Group in Q2 were $482.0 million, down 7.9%, and segment operating earnings were $114.8 million, down 16.6% from $137.7 million a year earlier. It attributed the organic decline to a high single-digit decrease in the U.S.
Source · Based on the MD&A text of the filing
Operating Cash Flow $649.8 million in 6 Months, Cash $1,232.7 million
Snap-on said net cash provided by operating activities for the first 6 months of 2024 was $649.8 million ($571.9 million in the same period a year earlier), and cash and cash equivalents as of June 29, 2024 were $1,232.7 million, up $231.2 million from the end of 2023.
Source · Based on the MD&A text of the filing
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.
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