Snap-On Misses Q2 Estimates, CEO Highlights Growth Opportunities: Details
Portfolio Pulse from Akanksha Bakshi
Snap-On Inc. (NYSE:SNA) reported Q2 2024 net sales of $1.179 billion, missing the consensus of $1.20 billion. The company saw a 1% year-over-year decline in net sales and a slight miss on adjusted EPS. Despite challenges, CEO Nick Pinchuk highlighted growth opportunities and ongoing progress. SNA shares traded lower by 2.64%.
July 18, 2024 | 2:28 pm
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Snap-On Inc. reported Q2 2024 net sales of $1.179 billion, missing the consensus of $1.20 billion. The company saw a 1% year-over-year decline in net sales and a slight miss on adjusted EPS. Despite challenges, CEO Nick Pinchuk highlighted growth opportunities and ongoing progress. SNA shares traded lower by 2.64%.
Snap-On's Q2 2024 earnings report showed a miss on both net sales and adjusted EPS, leading to a 2.64% drop in share price. The decline in net sales and the miss on EPS are likely to negatively impact investor sentiment in the short term. However, the CEO's emphasis on growth opportunities may provide some long-term optimism.
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