Snap-on sales up 7.1 percent
Snap-on reported net sales of $1.1 billion in the first quarter of 2022 increased by 7.1 percent from $1.0 billion in the same period in 2021.
The increase reflected an 8.0 percent organic sales gain.
Net earnings in the quarter of $217.4 million, or $4.00 per diluted share, compared to first quarter 2021 net earnings of $192.6 million, or $3.50 per diluted share.
Commercial & Industrial Group segment net sales of $340.1 million in the quarter compared to $345.7 million last year, reflecting a $3.6 million, or 1.1 percent, organic sales increase, which was more than offset by $9.2 million of unfavorable foreign currency translation.
Snap-on Tools Group segment net sales of $512.1 million in the quarter compared to $478.3 million last year, reflecting a $36.8 million, or 7.7 percent, organic sales gain, partially offset by $3.0 million of unfavorable foreign currency translation.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
