Snap-on sales soar 49.3 percent
Snap-on reported second-quarter net sales of $1.1 billion, a 49.3 percent increase from 2020 levels.
The gain reflected an organic sales gain of $316.9 million, or 42.5 percent, $19.6 million of acquisition-related sales, and $20.6 million of favorable foreign currency translation.
Net earnings in the quarter of $208.0 million, or $3.76 per diluted share, compared to second quarter 2020 net earnings of $101.2 million, or $1.85 per diluted share.
Commercial & Industrial Group segment net sales of $350.5 million in the quarter compared to $261.9 million last year, reflecting a $71.3 million, or 26.3 percent, organic sales gain, $7.7 million of acquisition-related sales, and $9.6 million of favorable foreign currency translation.
Snap-on Tools Group segment net sales of $484.1 million in the quarter compared to $323.3 million last year, reflecting a $154.1 million, or 46.7 percent, organic sales gain and $6.7 million of favorable 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.
