Snap-On reports Q3 EPS $5.02 with items, consensus $4.64

Q3 EPS includes a 31c per share after-tax benefit from a legal settlement. Reports Q3 revenue $1.19B, consensus $1.16B. “Our Q3 was encouraging, as it demonstrates our continuing momentum in meeting and overcoming the considerable uncertainty and the unprecedented trade turbulence of these days, as evidenced by our overall sales growth, by our resilient gross margins, and by our ongoing level of strong profitability…all enabled by our distinct advantages in strategy…generally making in the markets where we sell…and in structure…utilizing the flexibility provided by our 15 factories in the U.S. and our 36 plants worldwide,” said CEO Nick Pinchuk. “Despite the current volatility of this time, we believe our results show the diverse opportunities along our runways for growth in activities both within automotive repair and with customers outside the garage…It’s that sustained power of processes and products that once more authored our positive quarter. As always, I want to thank our franchisees and associates worldwide for their notable contributions, for their steadfast dedication, and for their unwavering confidence in the significant potential of our future.”