Snap-on sales rise 4.4 percent
Snap-on reported net sales of $941.6 million in the third quarter of 2020 increased 4.4 percent from 2019 levels.
Organic sales were up 3.8 percent.
Net earnings of $179.7 million, or $3.28 per diluted share, compared to $164.6 million, or $2.96, a year ago.
Commercial & Industrial Group segment net sales of $308.4 million in the quarter compared to $335.3 million last year, reflecting a $29.1 million, or 8.6 percent, organic sales decline and $2.2 million of favorable foreign currency translation.
Snap-on Tools Group segment net sales of $449.8 million in the quarter compared to $385.2 million last year, reflecting a $62.8 million, or 16.2 percent, organic sales gain and $1.8 million of favorable foreign currency translation. The organic increase reflects higher sales in both the United States and in the segment’s international operations.
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.
