In the quarter, operating earnings before financial services and consolidated operating earnings included an $11.3 million benefit for payments received associated with a legal matter (the “legal payment”) net earnings included an $8.8 million, or $0.16 per diluted share, after-tax benefit from the legal payment. Net earnings in the quarter of $263.5 million, or $4.91 per diluted share, compared to net earnings of $248.7 million, or $4.60 per diluted share, a year ago. The first quarter effective income tax rate was 22.2% in 2024 and 23.1% in 2023. As a percentage of net sales, operating earnings before financial services were 22.9% in the first quarter compared to 22.0% last year.įinancial services revenue in the quarter of $99.6 million compared to $92.6 million in 2023 financial services operating earnings of $68.3 million compared to $66.3 million last year.Ĭonsolidated operating earnings for the quarter of $339.2 million, or 26.5% of revenues (net sales plus financial services revenue), compared to $326.1 million, or 25.6% of revenues, last year. Operating earnings before financial services for the quarter of $270.9 million compared to $259.8 million in 2023.

Net sales of $1,182.3 million in the first quarter of 2024 represented a decrease of $0.7 million, or 0.1%, from 2023 levels, reflecting a $9.9 million, or 0.8%, organic sales decline, partially offset by $6.7 million of acquisition-related sales and $2.5 million of favorable foreign currency translation. Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the first quarter of 2024. Sales of $1,182.3 million consistent with last year Operating margin before financial services of 22.9% compares to 22.0% in Q1 2023 Diluted EPS of $4.91, including a $0.16 per share benefit from a legal payment,

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