• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

Snap-On misses quarterly sales estimates on lower tool demand

by October 17, 2024
written by October 17, 2024

(Reuters) – Snap-On posted a lower-than-expected third-quarter sales on Thursday, as inflationary pressures weighed on demand in the tools segment.

Higher borrowing costs and a rise in prices of tools – one of the company’s biggest revenue drivers – have led customers to limit purchases.

Sales in the Snap-On’s tools segment fell about 3% to $500.5 million, marking the third straight quarter in which the company reported a sales drop in the division.

Total sales fell 1.1% to about $1.15 billion, compared to a year ago, marginally missing the average analysts’ estimate of about $1.16 billion, according to data compiled by LSEG.

The Kenosha, Wisconsin-based manufacturer, however, reported a profit of $4.70 per share, compared with expectations of $4.59.

The profit growth was largely aided by lower costs. Snap-On’s operating margin before financial services increased by 80 basis points to 22%.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Dogecoin and Shiba Inu: Dogecoin in retreat since last night
next post
Ray-Ban maker EssilorLuxottica misses sales expectations as China slows

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • A flagging U.S. industry looks for new life in a Philadelphia shipyard

      July 18, 2025
    • Coca-Cola dodges after Trump says soda will switch back to cane sugar

      July 18, 2025
    • Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

      July 17, 2025
    • Inflation picks up again in June as tariffs slowly work their way through U.S. economy

      July 16, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (561)
    • Stock (6,426)

    Latest News

    • A flagging U.S. industry looks for new life in a Philadelphia shipyard
    • Coca-Cola dodges after Trump says soda will switch back to cane sugar

    Popular News

    • Earnings call: Interactive Brokers reports strong Q3 amid favorable market
    • Euro wobbles as political turmoil dents sentiment; bitcoin scales $100,000

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy