Snap-on Incorporated (NYSE:SNA), a global leader in tools and equipment for professional users, today announced its operating results for the first quarter of 2025.
The company reported net sales of $1,141.1 million for the first quarter of 2025, a 3.5% decrease from the $1,182.3 million recorded in the first quarter of 2024.
This decline was attributed to a 2.3% organic sales decrease ($27.3 million) and $13.9 million of unfavorable foreign currency translation.
Operating earnings before financial services for the quarter totalled $243.1 million, or 21.3% of net sales, compared to $270.9 million, or 22.9% of net sales, in the first quarter of 2024.
Despite the overall sales decline, Snap-on's financial services segment showed positive growth.
Financial services revenue reached $102.1 million in the first quarter of 2025, up from $99.6 million in 2024.
Operating earnings for this segment also increased to $70.3 million from $68.3 million in the previous year.
On a consolidated basis, operating earnings for the first quarter of 2025 were $313.4 million, or 25.2% of revenues, compared to $339.2 million, or 26.5% of revenues, in the first quarter of 2024.
Meanwhile, net earnings for the first quarter of 2025 amounted to $240.5 million, or $4.51 per diluted share, compared to $263.5 million, or $4.91 per diluted share, in the first quarter of 2024.