Slide 1: Quarterly Financial Review Third Quarter 2024
Quarterly Financial Review Third Quarter 2024 Q3-2024 Quarterly Review © 2024 Snap-on Incorporated
Slide 2: Q3-2024 Quarterly Review © 2024 Snap-on Incorporated
Q3-2024 Quarterly Review © 2024 Snap-on Incorporated
Slide 3: Cautionary Statement
Cautionary Statement These slides should be read in conjunction with comments from the October 17, 2024 conference call. The financial statement information included herein is unaudited. Statements made during the October 17, 2024 conference call and/or information included in this presentation
Slide 4: Nick Pinchuk, Chairman and Chief Executive Officer
Nick Pinchuk Chairman and Chief Executive Officer Q3-2024 Quarterly Review © 2024 Snap-on Incorporated
Slide 5: Aldo Pagliari, Senior Vice President and Chief Financial Officer
Aldo Pagliari Senior Vice President and Chief Financial Officer Q3-2024 Quarterly Review 5 © 2024 Snap-on Incorporated
Slide 6: Consolidated Results
Consolidated Results Q3 2024 Q3 2023 ($ in millions, except per share data - unaudited) $ % $ % Change Net sales $ 1,147.0 $ 1,159.3 (1.1)% Organic sales (19.2) (1.7)% Acquisitions 7.2 0.7 % Currency translation (0.3) (0.1)% Gross profit $ 587.8 51.2 % $ 578.2 49.9 % Operating expenses 335.4 2
Slide 7: Commercial & Industrial
Commercial & Industrial ($ in millions - unaudited) Q3 2024 Q3 2023 Change Segment sales $ 365.7 $ 366.4 (0.2)% Organic sales (7.8) (2.1)% Acquisition 7.2 1.9 % Currency translation (0.1) 0.0 % Gross profit $ 150.8 $ 143.0 % of sales 41.2 % 39.0 % Operating expenses $ 89.8 $ 84.9 % of sales 24
Slide 8: Snap-on Tools
Snap-on Tools ($ in millions - unaudited) Q3 2024 Q3 2023 Change Segment sales $ 500.5 $ 515.4 (2.9)% Organic sales (15.8) (3.1)% Currency translation 0.9 0.2 % Gross profit $ 236.5 $ 238.6 % of sales 47.3 % 46.3 % Operating expenses $ 128.2 $ 125.2 % of sales 25.7 % 24.3 % Operating earnings $
Slide 9: Repair Systems & Information
Repair Systems & Information ($ in millions - unaudited) Q3 2024 Q3 2023 Change Segment sales $ 422.7 $ 431.8 (2.1)% Organic sales (8.2) (1.9)% Currency translation (0.9) (0.2)% Gross profit $ 200.5 $ 196.6 % of sales 47.4 % 45.5 % Operating expenses $ 93.2 $ 91.7 % of sales 22.0 % 21.2 % Operat
Slide 10: Financial Services
Financial Services ($ in millions - unaudited) Q3 2024 Q3 2023 Change Segment revenue $ 100.4 $ 94.9 5.8 % Operating earnings $ 71.7 $ 69.4 3.3 % Originations $ 288.0 $ 305.2 (5.6)% Originations decreased $17.2 million or 5.6% Average yield on finance receivables was 17.7% in both periods Aver
Slide 11: Financial Services Portfolio Data
Financial Services Portfolio Data United States International Extended Extended ($ in millions - unaudited) Credit Total Credit Total Gross finance portfolio $ 1,756.1 $ 2,197.9 $ 248.6 $ 344.3 Portfolio net losses (TTM) $ 58.0 $ 59.5 $ 4.3 $ 4.9 60+ Delinquency: As of 09/30/24 1.9 % 1.5 % 0.9 % 0.8
Slide 12: Cash Flows
Cash Flows 3rd Quarter September YTD ($ in millions - unaudited) 2024 2023 2024 2023 Net cash provided by operating activities $ 274.2 $ 285.4 $ 924.0 $ 857.3 Net earnings 257.5 249.1 804.7 773.3 Depreciation and amortization 24.6 24.6 73.7 74.3 Changes in deferred income taxes (2.8) (7.3) (7.
Slide 13: Balance Sheet
Balance Sheet September 28, December 30, ($ in millions - unaudited) 2024 2023 Trade & Other Accounts Receivable – net $ 796.4 $ 791.3 Days Sales Outstanding 61 60 Finance Receivables – net $ 1,933.7 $ 1,878.3 Contract Receivables – net $ 544.2 $ 528.7 Inventories – net $ 995.8 $ 1,005.9 Inventory t
Slide 14: Q3-2024 Quarterly Review © 2024 Snap-on Incorporated
Q3-2024 Quarterly Review 14 © 2024 Snap-on Incorporated