-=Snap-On (SNA) reported earnings on Thur 19 July 18 (b/o)

Snap-On beats by $0.19, reports revs in-line 

• Reports Q2 (Jun) earnings of $3.11 per share, excluding non-recurring items, $0.19 better thanthe Capital IQ Consensus of $2.92; revenues rose 3.6% year/year to $954.6 mln vs the $952.04 mln Capital IQ Consensus. Organic sales were +1.3%.
• Outlook: Snap-on expects to make continued progress in 2018 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. In pursuit of these initiatives, Snap-on expects that capital expenditures in 2018 will be in a range of $90 million to $100 million, of which $38.6 million was incurred in the first six months of the year. Snap-on currently anticipates that its full year 2018 effective income tax rate will be in a range of 24% to 25%.