Snap-on Reports Solid 2Q 2018 but Hand Tools Still Sluggish; Maintaining $132 FVE
Narrow-moat-rated Snap-on, the hand tool, repair systems, and diagnostic equipment provider to critical task repair and maintenance professionals, reported solid second-quarter 2018 earnings per share before special items of $3.11, handily surpassing the consensus of $2.92 by $0.19 and $0.52 higher than the $2.59 reported in the prior year. Commercial and industrial, or C&I, and repair services and information, or RS&I, group revenue increased 9% and 2%, respectively, which more than off...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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