Tools Group Organic Sales Increase
The Tools Group reported an organic sales increase of 1.6%, with a low single-digit improvement in the US, despite a flat international network.
RSNI Group Performance
RSNI Group saw organic sales increase by 2.3%, driven by a high single-digit advancement in diagnostic information and strong double-digit improvements in OEM businesses.
Strong Gross Margin
The company achieved a consolidated gross margin of 50.5%, only 10 basis points down from last year, despite 50 basis points of unfavorable currency effects.
Introduction of New Products
Snap-on introduced various new products, such as the Triton diagnostics platform and new hand tools, which have been well-received in the market.
Resilience in Automotive Repair Markets
Sales in automotive repair markets were up, with gains in franchise van channels and activity with OEM dealerships and independent repair shop owners.