Menu
Posted February 4, 2021

Snap-on posts strong fourth quarter

A strong fourth quarter tempered the sales decline for 2020 at Snap-on.


Net sales of $1.07 billion in the fourth quarter increased by 12.5 precent from 2019 levels.

Organic sales improved by 10.6 percent during the quarter.

Net earnings of $208.9 million, or $3.82 per diluted share, compared to $170.6 million, or $3.08, a year ago.

Full year net sales of $3.6 billion decreased 3.7 percent from 2019 levels, with organic sales declining by 3.8 percent, partially offset by acquisition-related sales. The lower sales volume is primarily due to decreased activity in the first half of the year as a result of the initial shock associated with the COVID-19 pandemic.

Full year net earnings of $627.0 million, or $11.44 per diluted share, compared to net earnings of $693.5 million, or $12.41 per diluted share, last year.

Commercial & Industrial Group segment sales of $364.4 million in the fourth quarter increased 3.3 percent from 2019 levels.

Snap-on Tools Group segment sales of $494.9 million in the quarter increased 20.2 percent from 2019 levels.

Repair Systems & Information Group segment sales of $361.1 million increased 7.8 percent in the quarter from 2019 levels.

SPONSORED ADS