Snap-on Q3 diluted EPS rises 4.2% to $4.70 as sales dip 1.1% to $1.15 billion
Snap-on reported third-quarter 2024 results for the quarter ended September 28, 2024. Net sales fell 1.1% to $1,147.0 million, but diluted earnings per share rose 4.2% to $4.70, helped by an operating margin before financial services of 22.0%, up from 21.2%. For shareholders, per-share profit grew even though sales declined, and the company reaffirmed a 22% to 23% full-year 2024 tax rate outlook.
Key points
- Net sales were $1,147.0 million, down $12.3 million or 1.1% from $1,159.3 million; organic sales fell 1.7%.
- Net earnings attributable to Snap-on were $251.1 million, or $4.70 per diluted share, versus $4.51 a year earlier.
- Operating margin before financial services was 22.0%, compared with 21.2% last year.
- Full-year 2024 effective tax rate is expected to be 22% to 23%; 2024 capital expenditures are projected at about $100 million, with $65.4 million spent in the first nine months.
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 17, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.