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Thursday, July 21, 2016

=Snap-On (SNA) reported earnings on Thur 21 Jul 2016 (b/o)






Snap-On beats by $0.13, reports revs in-line  :
  • Reports Q2 (Jun) earnings of $2.36 per share, excluding non-recurring items, $0.13 better thanthe Capital IQ Consensus of $2.23; revenues rose 2.4% year/year to $872.3 mln vs the $876.7 mln Capital IQ Consensus. 
  • Outlook: "Snap-on expects to make continued progress in 2016 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 also in adjacent markets, additional geographies and other areas, including in critical industries, where the cost and penalties for failure can be high. In pursuit of these initiatives, Snap-on continues to expect that capital expenditures in 2016 will be in a range of $80 million to $90 million."

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