New Markets and Product Offerings Facilitate Snap-on's Expansion Efforts
Narrow-moat Snap-on reported a mixed fourth quarter due to a variety of factors external to its core U.S. operations. Adjusted EPS of $3.03 beat consensus of $3.01 and exceeded last year’s fourth-quarter EPS of $2.69. Revenue excluding financial services was $953 million versus consensus of $969 million. Commercial and industrial revenue increased 0.6% over the prior year. In contrast, the repair services and information segment and the hand tools segment revenue declined 4.7% and 0.4%, respecti...Snap-on is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. Products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. The company also provides financing programs designed to facilitate the sales of its products and support its franchise business.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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