Snap-on sales up 3.1 percent
Snap-on Incorporated said its sales of $851.8 million for the second quarter increased $25.3 million, or 3.1%, from 2014 levels.
Net earnings of $120.0 million, or $2.03 per diluted share, compared to $106.1 million, or $1.80, a year ago.
Commercial & Industrial Group segment sales of $295.8 million in the quarter increased $8.6 million, or 3.0%, from 2014 levels.
Snap-on Tools Group segment sales of $398.7 million in the quarter rose $29.6 million, or 8.0%, from 2014 levels.
Repair Systems & Information Group segment sales of $277.4 million in the quarter decreased $1.1 million, or 0.4%, from 2014 levels.
“We’re encouraged by the ongoing progress reflected in our second quarter results, including 8.4% organic sales growth, a 17.7% operating margin before financial services, representing a 100 basis point improvement, and a 12.8% increase in diluted earnings per share,” said Nick Pinchuk, Snap-on chairman and chief executive officer.
INDUSTRIAL SUPPLY MAGAZINE
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