Q2 sales 1.179 bln usd, down 1.0% (Il Sole 24 Ore Radiocor) - New York, 18 Jul - The US tool supplier Snap-on said that the second quarter of 2024 net earnings rose to 271.2 million dollars, or 5.07 dollars per diluted share, from 264.0 million, or 4.89 dollars per diluted share, a year ago.

Net sales fell 1.0% to 1.179 billion dollars. Organic sales declined 1.1%.

The operating margin before financial services was 23.8% against 23.3% a year earlier.

In 2024, Snap-on expects to "make ongoing progress along its defined runways for coherent growth, leveraging capabilities already demonstrated in the automotive repair arena and developing and expanding its professional customer base, not only in automotive repair, but in adjacent markets, additional geographies and other areas, including extending in critical industries, where the cost and penalties for failure can be high." The company projects that capital expenditures in 2024 will be 100-110 million dollars, of which 45.0 million was incurred in the first six months of the year.

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(RADIOCOR) 18-07-24 19:13:21 (0711) 5 NNNN