Professional tools and equipment manufacturer Snap-on (NYSE: SNA) will be reporting results this Thursday morning. Here’s what to look for.
Snap-on beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $1.28 billion, flat year on year. It was a strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ revenue estimates.
Is Snap-on a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Snap-on’s revenue to be flat year on year at $1.26 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $4.66 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Snap-on has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Snap-on’s peers in the industrial machinery segment, only Worthington has reported results so far. It beat analysts’ revenue estimates by 1.4%, delivering year-on-year sales growth of 18%. The stock was down 11.6% on the results.
Read our full analysis of Worthington’s earnings results here.There has been positive sentiment among investors in the industrial machinery segment, with share prices up 2.2% on average over the last month. Snap-on’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $351.13 (compared to the current share price of $337.02).
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