Snap-on Incorporated · NYSE:SNA
Snap-on — Q1 2025 Earnings Presentation
14 slides from Snap-on's earnings presentation, Apr 17, 2025
Slide 1: Quarterly Financial Review First Quarter 2025
Quarterly Financial Review First Quarter 2025 Q1-2025 Quarterly Review © 2025 Snap-on Incorporated
Slide 2: Who We Are
Snapan incorporated Who We Are OUR MISSION The most valued productivity solutions in the world BELIEFS VALUES VISION We deeply believe in: Our behaviors define our success: To be acknowledged as the: Non-negotiable Product and We demonstrate Integrity, Brands of Choice Workplace Safety Uncompromisin
Slide 3: Cautionary Statement
Cautionary Statement These slides should be read in conjunction with comments from the April 17, 2025 conference call. The financial statement information included herein is unaudited. Statements made during the April 17, 2025 conference call and/or information included in this presentation may
Slide 4: Nick Pinchuk, Chairman and Chief Executive Officer
Nick Pinchuk Chairman and Chief Executive Officer Q1-2025 Quarterly Review © 2025 Snap-on Incorporated
Slide 5: Aldo Pagliari, Senior Vice President and Chief Financial Officer
Aldo Pagliari Senior Vice President and Chief Financial Officer Q1-2025 Quarterly Review © 2025 Snap-on Incorporated
Slide 6: Consolidated Results
Consolidated Results Q1 2025 Q1 2024 ($ in millions, except per share data - unaudited) $ % $ % Change Net sales $ 1,141.1 $ 1,182.3 (3.5)% Organic sales (27.3) (2.3)% Currency translation (13.9) (1.2)% Gross profit $ 578.5 50.7 % $ 596.7 50.5 % Operating expenses 335.4 29.4 % 325.8 27.6 % Opera
Slide 7: Commercial & Industrial
Commercial & Industrial ($ in millions - unaudited) Q1 2025 Q1 2024 Change Segment sales $ 343.9 $ 359.9 (4.4)% Organic sales (10.4) (2.9)% Currency translation (5.6) (1.5)% Gross profit $ 146.5 $ 146.7 % of sales 42.6 % 40.8 % Operating expenses $ 93.3 $ 91.3 % of sales 27.1 % 25.4 % Operating
Slide 8: Snap-on Tools
Snap-on Tools ($ in millions - unaudited) Q1 2025 Q1 2024 Change Segment sales $ 462.9 $ 500.1 (7.4)% Organic sales (33.6) (6.8)% Currency translation (3.6) (0.6)% Gross profit $ 214.5 $ 241.1 % of sales 46.3 % 48.2 % Operating expenses $ 122.1 $ 123.8 % of sales 26.3 % 24.7 % Operating earnings
Slide 9: Repair Systems & Information
Repair Systems & Information ($ in millions - unaudited) Q1 2025 Q1 2024 Change Segment sales $ 475.9 $ 463.8 2.6 % Organic sales 17.0 3.7 % Currency translation (4.9) (1.1)% Gross profit $ 217.5 $ 208.9 % of sales 45.7 % 45.0 % Operating expenses $ 95.4 $ 96.0 % of sales 20.0 % 20.7 % Operating
Slide 10: Financial Services
Financial Services ($ in millions - unaudited) Q1 2025 Q1 2024 Change Segment revenue $ 102.1 $ 99.6 2.5 % Operating earnings $ 70.3 $ 68.3 2.9 % Originations $ 268.7 $ 301.7 (10.9)% Originations decreased $33.0 million or 10.9% Average yields on finance receivables were 17.6% in 2025 and 17.7%
Slide 11: Financial Services Portfolio Data
Financial Services Portfolio Data United States International Extended Extended ($ in millions - unaudited) Credit Total Credit Total Gross finance portfolio $ 1,748.6 $ 2,182.4 $ 241.2 $ 337.3 Portfolio net losses (TTM) $ 62.9 $ 64.8 $ 4.9 $ 5.5 60+ Delinquency: As of 03/31/25 2.0 % 1.6 % 1.1 % 1.0
Slide 12: Cash Flows
Cash Flows First Quarter ($ in millions - unaudited) 2025 2024 Net cash provided by operating activities $ 298.5 $ 348.7 Net earnings 246.7 269.6 Depreciation and amortization 24.0 24.5 Changes in deferred income taxes 3.7 1.6 Changes in working investment (17.9) (2.5) Changes in accrued a
Slide 13: Balance Sheet
Balance Sheet March 29, December 28, ($ in millions - unaudited) 2025 2024 Trade & Other Accounts Receivable – net $ 852.7 $ 815.6 Days Sales Outstanding 66 62 Finance Receivables – net $ 1,916.7 $ 1,922.3 Contract Receivables – net $ 536.5 $ 538.3 Inventories – net $ 961.2 $ 943.4 Inventory turns –
Slide 14: Q1-2025 Quarterly Review © 2025 Snap-on Incorporated
Q1-2025 Quarterly Review © 2025 Snap-on Incorporated