NYSE:SNAMachinery
Why Snap-on (SNA) Is Up 6.2% After Accelerating Buybacks Despite Flat Q2 Sales and Lower Profits
Snap-on Incorporated recently announced second quarter results, reporting sales of US$1,179.4 million unchanged from the prior year, but with net income falling to US$250.3 million from US$271.2 million.
Amid flat revenues, the company accelerated its share buybacks, completing two separate repurchase programs totaling over US$1.56 billion and reducing shares outstanding.
We’ll explore how the combination of steady sales and lower earnings impacts Snap-on’s investment narrative, especially...