Snap-on Q2 2023 net earnings rise to $264.0 million, or $4.89 per diluted share
Snap-on reported second-quarter 2023 results for the period ended July 1, 2023. Net sales rose 4.8% to $1,191.3 million and net earnings attributable to Snap-on rose to $264.0 million, or $4.89 per diluted share, from $231.5 million, or $4.27, a year earlier. For shareholders, both sales and profit grew, and the outlook section gives 2023 capital expenditure and tax rate estimates.
Key points
- Net sales of $1,191.3 million, up $54.7 million or 4.8% from the second quarter of 2022; organic sales rose 5.6%
- Operating earnings before financial services were 23.3% of net sales, up 160 basis points from 21.7%
- Net earnings attributable to Snap-on of $264.0 million, or $4.89 per diluted share, versus $231.5 million, or $4.27, a year ago
- 2023 outlook: capital expenditures approximate $100 million ($48.8 million spent in the first six months); full-year effective tax rate of 23% to 24%
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 July 20, 2023.
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.