Snap-on Continues to Face Challenges in Foreign Markets Despite New Product Introductions
Despite softness in Europe, Snap-on’s adjusted EPS of $3.01 handily beat consensus of $2.90 in the first quarter. Revenue in the quarter excluding financial services was $922 million versus consensus of $933 million. Both Commercial and Industrial revenue and Repair Systems & Information revenue declined 2.7% year over year. These declines were attributed to currency translation effects and weakness in Europe as Brexit concerns impacted Snap-on's customers' buying decisions. The Tools group ...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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