Core Viewpoint - Snap-On's stock price is expected to rise significantly following a strong Q2 earnings release, with a potential upside of at least 12% as it aligns with long-term trends and market support [1][2][3] Financial Performance - Snap-On reported Q2 revenue of $1.1 billion, flat year-over-year but exceeding MarketBeat's consensus estimate by 100 basis points [9][10] - GAAP EPS for the quarter was $4.72, nearly 200 basis points above forecasts, supported by share buybacks that reduced the share count by nearly 1% [10][11] Market Sentiment - Analysts' sentiment is bullish, with six current reports rating the stock as a Moderate Buy, and four of those as an outright Buy [5][6] - The consensus price target is $356.17, indicating a 5% upside, with a high-end target of $400, suggesting potential for new all-time highs [6][9] Institutional Activity - Institutional ownership is strong, with approximately 85% of the stock held by institutions, which have been buying more than selling at a rate of over 2-to-1 in Q1 and Q2 [7][8] - In Q3, buying activity continued robustly, with nearly $500 million in purchases and virtually no selling in the first two weeks of July [8] Balance Sheet Strength - Snap-On's balance sheet shows significant improvements, with increases in cash, receivables, inventories, and total assets, alongside reduced liabilities [12][13] - The company maintains a low leverage ratio, with net cash and debt approximately 0.2 times equity, supporting its capital return outlook [13]

Core Insights - Snap-On Inc. reported better-than-expected second-quarter 2025 results, with net sales of $1.179 billion, a flat year-over-year increase, surpassing the consensus estimate of $1.16 billion. EPS for the quarter was $4.72, down from $5.07 YoY, but above the consensus of $4.67 [1][2]. Financial Performance - Quarterly net sales reached $1.179 billion, flat year-over-year, exceeding the consensus estimate of $1.16 billion [1]. - EPS for the quarter was $4.72, down from $5.07 YoY, but above the consensus estimate of $4.67 [1]. Management Commentary - The CEO expressed encouragement regarding the second-quarter results, highlighting the return of sales growth in the U.S. Tools Group and resilient gross margins despite ongoing uncertainties and trade turbulence [2]. - The company is focusing on product development and marketing to align with customer preferences, aiming to regain positive momentum [2]. Future Outlook - Snap-On anticipates continued growth in 2025, expanding its professional customer base in automotive repair and adjacent markets, with projected capital expenditures of $100 million [2]. - The company expects a full-year 2025 effective income tax rate between 22% and 23% [2]. Stock Performance - Snap-On shares gained 7.9% to close at $337.80 following the earnings announcement [3]. - Analysts have adjusted their price targets post-earnings, with Baird maintaining a Neutral rating and raising the target from $329 to $347, while B of A Securities maintained an Underperform rating and raised the target from $265 to $285 [3][8].

Core Insights - Snap-on Inc. reported second-quarter 2025 results with earnings and revenues exceeding Zacks Consensus Estimates, although earnings declined 3.9% year-over-year and revenues remained flat compared to the prior year [1][3]. Financial Performance - Earnings per share were $4.72, surpassing the Zacks Consensus Estimate of $4.61, but down from $4.91 in the same quarter last year [3]. - Net sales reached $1.179 billion, flat year-over-year, and exceeded the Zacks Consensus Estimate of $1.154 billion, with an organic sales decline of 0.7% offset by favorable foreign currency translation [3]. - Gross profit was $595.5 million, a decrease of 0.3% year-over-year, with a gross margin of 50.5%, down 10 basis points from the previous year [4]. - Operating earnings before financial services totaled $259.1 million, down 7.6% year-over-year, with operating earnings as a percentage of sales contracting to 22% [5]. - Consolidated operating earnings, including financial services, were $327.3 million, down 6.6% year-over-year, with operating earnings as a percentage of sales contracting to 25.5% [6]. Segment Analysis - Sales in the Commercial & Industrial Group decreased 6.5% year-over-year to $347.8 million, primarily due to weaker performance in Asia Pacific and Europe [7]. - The Tools Group segment saw sales increase by 1.9% year-over-year to $491 million, driven by stronger demand in the U.S. [8]. - Sales in the Repair Systems & Information Group improved 3% year-over-year to $468.6 million, supported by increased activity with OEM dealerships [9]. - The Financial Services business reported a revenue increase of 1.2% year-over-year to $101.7 million [10]. Financial Position - As of the end of the second quarter 2025, Snap-on had cash and cash equivalents of $1.46 billion and shareholders' equity of $5.7 billion [11]. - The company anticipates capital expenditures of $100 million for the full year 2025 [11]. Future Outlook - Management expects resilience in markets and operations against uncertainties, aiming to advance core growth strategies and expand into new markets and industries [12]. - The effective tax rate is projected to be between 22-23% for 2025 [12].

Financial Data and Key Metrics Changes - Company reported net sales of $1,179,400,000, unchanged from last year, with an organic sales decline of $8,600,000 offset by favorable foreign currency translation [39][40] - Operating income for the quarter was $259,100,000, down 7.6% from last year, with an operating margin of 22%, a decrease of 180 basis points compared to last year [8][39] - Earnings per share (EPS) for the quarter was $4.72, down $0.35 from last year, impacted by higher pension amortization costs and a legal payment benefit included in last year's figures [9][43][44] Business Line Data and Key Metrics Changes - The Commercial and Industrial (C and I) group reported sales of $347,800,000, reflecting a 7.6% organic sales decline, with operating income of $46,900,000 and an operating margin of 13.5%, down from 16.7% last year [45][46] - The Tools group saw organic sales increase of 1.6% to $491,000,000, with operating income of $116,700,000 and an operating margin of 23.8%, unchanged from last year [21][48] - The Repair Systems and Information (RS and I) group reported sales of $468,600,000, a 2.3% organic increase, with operating income of $119,800,000 and an operating margin of 25.6%, up 60 basis points from last year [33][49] Market Data and Key Metrics Changes - The automotive repair environment remains favorable, with increased miles driven, average vehicle age, and household spending on repairs [9][10] - The C and I segment faced challenges early in the quarter but showed signs of recovery as the quarter progressed, particularly in aviation and military sectors [12][76] - The RS and I group experienced strong growth in diagnostics and information, with double-digit improvements in OEM businesses [33][49] Company Strategy and Development Direction - Company emphasizes resilience and balance in navigating a turbulent environment, focusing on maintaining product and brand advantages [7][39] - The strategy includes investing in product innovation and adapting to market needs, particularly in response to technician preferences for quicker payback items [22][30] - The company aims to leverage its strengths in manufacturing locally and maintaining a broad facility structure to mitigate tariff impacts [61] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges and capitalize on opportunities, highlighting the importance of product innovation and customer connection [62] - The outlook for the remainder of 2025 includes expectations for stable operating costs and continued investment in brand and product development [56] - Management noted that while the current environment is challenging, there are signs of stabilization and potential for growth as customer confidence returns [72][74] Other Important Information - The company reported a consolidated gross margin of 50.5%, slightly down from 50.6% last year, impacted by unfavorable foreign currency effects [40] - Operating expenses as a percentage of net sales rose to 28.5%, primarily due to increased personnel costs and ongoing brand investments [40] - The company plans to continue its share repurchase program, with $357,900,000 remaining under authorization [54] Q&A Session Summary Question: What were the key shifts in the Tools Group from Q1 to Q2? - Management noted that technicians experienced increased uncertainty in Q1, which stabilized in Q2, allowing for a successful pivot towards lower-end big ticket items [64][66][68] Question: What is the outlook for credit origination demand? - Management indicated that while originations were down 4.9%, there is potential for improvement as customer confidence stabilizes [70][72] Question: Can you elaborate on the RS and I group's growth and the new Triton platform? - Management highlighted strong growth in RS and I, with the new Triton platform offering wireless capabilities and improved diagnostic features, priced around $4,500 [85][88]

Financial Data and Key Metrics Changes - The company's net sales for the second quarter were $1,179,400,000, unchanged from the previous year, with an organic sales decline of $8,600,000 offset by favorable foreign currency translation [40][41] - Operating income for the quarter was $259,100,000, down 7.6% from last year, with an operating margin of 22%, which is 80 basis points lower than the previous year [7][43] - Earnings per share (EPS) for the quarter was $4.72, a decrease of $0.35 compared to last year, primarily due to headwinds from increased pension costs and the absence of legal benefits from the previous year [8][44] Business Line Data and Key Metrics Changes - The Commercial and Industrial (C and I) group reported sales of $347,800,000, reflecting a 7.6% organic sales decline, with operating income of $46,900,000 and an operating margin of 13.5%, down from 16.7% last year [45][46] - The Tools Group saw organic sales increase by 1.6% to $491,000,000, with operating income of $116,700,000 and an operating margin of 23.8%, unchanged from the previous year [22][48] - The Repair Systems and Information (RS and I) group reported sales of $468,600,000, a 2.3% organic increase, with operating income of $119,800,000 and an operating margin of 25.6%, up 60 basis points from last year [33][49] Market Data and Key Metrics Changes - The automotive repair environment remains favorable, with metrics such as miles driven, average vehicle age, and household spending on repairs all increasing [11][12] - The C and I segment faced challenges early in the quarter but showed signs of recovery as project flow improved towards the end of the quarter [15][16] - The RS and I group experienced strong growth in diagnostics and information, particularly in OEM businesses, contributing to overall sales growth [33][48] Company Strategy and Development Direction - The company is focused on maintaining and strengthening its product, brand, and people advantages, believing that emerging from disruptions at full strength is crucial [8][40] - There is a commitment to innovation, with new product launches aimed at addressing the increasing complexity of vehicle repairs and enhancing technician efficiency [19][30] - The company aims to leverage its strengths in manufacturing locally to mitigate the impacts of trade policies and currency fluctuations [41][62] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and ability to navigate a turbulent macro environment, highlighting the importance of adapting to changing market conditions [6][59] - The management noted that while challenges exist, there are also significant opportunities for growth, particularly in critical industries and automotive repair [15][16] - The outlook for the remainder of 2025 includes expectations for continued investment in product development and brand strength, despite anticipated increases in pension costs [57][58] Other Important Information - The company reported a consolidated gross margin of 50.5%, slightly down from 50.6% last year, impacted by unfavorable foreign currency effects [41][39] - Cash provided by operating activities was $237,200,000, down from $301,100,000 last year, primarily due to increased working investments and lower net earnings [53] - The company has approximately $2.5 billion in gross financing receivables and $2.2 billion from US operations, with a relatively balanced portfolio performance [52] Q&A Session Summary Question: What were the key shifts in the Tools Group from Q1 to Q2? - Management noted that technicians experienced increased uncertainty in Q1, which stabilized in Q2, allowing for a successful pivot towards lower-end big ticket items [66][69] Question: What is the outlook for credit origination demand? - Management indicated that while originations were down 4.9%, there is potential for improvement as technicians begin to stabilize and accommodate to the current environment [73][75] Question: Can you elaborate on the RSNI growth and the new Triton platform? - The new Triton platform is wireless, offers a zoom feature for diagnostics, and has a longer battery life, enhancing technician efficiency and flexibility [88][90]

Core Insights - Snap-On reported revenue of $1.18 billion for the quarter ended June 2025, showing no change compared to the same period last year, with an EPS of $4.72, down from $4.91 year-over-year [1] - The revenue exceeded the Zacks Consensus Estimate by +2.24%, while the EPS surprised by +2.39% over the consensus estimate [1] Financial Performance Metrics - Financial Services Revenue was reported at $101.7 million, surpassing the average estimate of $99.86 million [4] - Intersegment eliminations showed a revenue of $-128 million, slightly better than the average estimate of $-134.31 million, reflecting a year-over-year change of -1.1% [4] - Repair Systems & Information Group revenue was $468.6 million, close to the estimated $469.57 million, marking a +3% change year-over-year [4] - Snap-on Tools Group revenue reached $491 million, exceeding the average estimate of $467.58 million, with a year-over-year increase of +1.9% [4] - Commercial & Industrial Group revenue was $347.8 million, below the average estimate of $359.03 million, indicating a -6.5% year-over-year change [4] Operating Earnings - Operating earnings for Financial Services were $68.2 million, slightly below the average estimate of $68.73 million [4] - The Commercial & Industrial Group reported operating earnings of $46.9 million, significantly lower than the average estimate of $57.86 million [4] - Corporate operating losses were reported at $-24.3 million, compared to the estimated $-23.53 million [4] - Snap-on Tools Group operating earnings were $116.7 million, exceeding the average estimate of $107.02 million [4] - Repair Systems & Information Group operating earnings were $119.8 million, above the average estimate of $112.74 million [4] Stock Performance - Snap-On shares returned +2% over the past month, while the Zacks S&P 500 composite increased by +4.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Consolidated Results - Net sales remained unchanged at $1,179.4 million, with a 0.7% organic sales decline offset by a 0.7% favorable currency translation[10] - Gross profit was $595.5 million, representing a gross margin of 50.5%, a decrease of 10 bps from the previous year's 50.6%[10] - Operating earnings were $327.3 million, resulting in an operating margin of 25.5%, a decrease from 27.4% in the prior year[10] - Diluted EPS decreased by 6.9% to $4.72[10] Segment Performance - **Commercial & Industrial:** Sales decreased by 6.5% to $347.8 million, with a 7.6% organic sales decline[11] - **Snap-on Tools:** Sales increased by 1.9% to $491.0 million, driven by a 1.6% organic sales increase[12] - **Repair Systems & Information:** Sales increased by 3.0% to $468.6 million, with a 2.3% organic sales gain[13] - **Financial Services:** Revenue increased by 1.2% to $101.7 million, while operating earnings decreased by 2.8%[14] Financial Position - Gross finance portfolio totaled $2,540.8 million[15] - Net debt was $(254.6) million, resulting in a net debt to capital ratio of (4.7)%[17] Cash Flow - Net cash provided by operating activities was $237.2 million[16] - Free cash flow was $191.1 million[16]

Q2 2025 Earnings Release Summary [Financial Highlights](index=1&type=section&id=Financial%20Highlights) In Q2 2025, Snap-on reported net sales of $1,179.4 million, unchanged from the previous year, reflecting a 0.7% organic decline offset by favorable currency translation. Diluted EPS decreased to $4.72 from $5.07 in Q2 2024, with the prior year's results including a significant benefit from legal payments Q2 2025 Key Financial Metrics | Metric | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change | | :--- | :--- | :--- | :--- | | Net Sales | $1,179.4 | $1,179.4 | 0.0% | | Gross Margin | 50.5% | 50.6% | -10 bps | | Operating Earnings before Financial Services | $259.1 | $280.3 | -7.6% | | Operating Margin before Financial Services | 22.0% | 23.8% | -180 bps | | Net Earnings | $250.3 | $271.2 | -7.7% | | Diluted EPS | $4.72 | $5.07 | -6.9% | - Net sales were **flat year-over-year**, as a **$8.6 million (0.7%) organic sales decline** was completely offset by an **$8.6 million positive impact** from foreign currency translation[3](index=3&type=chunk) - The decline in operating earnings and net earnings was impacted by the prior-year period (Q2 2024) including an **$11.2 million benefit** (**$8.7 million after-tax**, or **$0.16 per diluted share**) from final payments related to a legal matter[3](index=3&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) Management expressed encouragement with the Q2 results, highlighting the return of sales growth in the U.S. Tools Group and resilient margins despite macroeconomic uncertainty. The company successfully pivoted to 'quick payback items' to match customer preferences and saw gains in diagnostics and precision-torque solutions. The strategy remains focused on manufacturing in local markets and leveraging structural strengths to navigate challenges - The company is encouraged by the **return to sales growth in the U.S. Tools Group** and **resilient gross margins**[4](index=4&type=chunk) - Strategic actions were taken to overcome variation in confidence among vehicle repair technicians by focusing on product development and marketing of **'quick payback items'**[4](index=4&type=chunk) - The company advanced with OEM dealerships and independent shops, particularly with its **diagnostics platforms** and **precision-torque solutions**[4](index=4&type=chunk) [Segment Performance](index=2&type=section&id=Segment%20Performance) In Q2 2025, segment performance was mixed. The Snap-on Tools Group and Repair Systems & Information Group both posted organic sales growth of 1.6% and 2.3% respectively. Conversely, the Commercial & Industrial Group experienced a significant organic sales decline of 7.6%. Financial Services revenue grew slightly, but its operating earnings saw a small decrease [Commercial & Industrial Group](index=2&type=section&id=Commercial%20%26%20Industrial%20Group) The Commercial & Industrial Group saw **6.5% sales decline** and **7.6% organic decrease** in Q2 2025, with operating earnings down **24.6%** Commercial & Industrial Group Q2 Performance | Metric | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change | | :--- | :--- | :--- | :--- | | Segment Sales | $347.8 | $372.0 | -6.5% | | Organic Sales Change | -7.6% | N/A | N/A | | Operating Earnings | $46.9 | $62.2 | -24.6% | | Operating Margin | 13.5% | 16.7% | -320 bps | - The **organic sales decline** was primarily driven by **reductions in Asia Pacific and European-based hand tools businesses** and **lower activity with customers in critical industries**, partially offset by a **rise in the specialty torque operation**[5](index=5&type=chunk) [Snap-on Tools Group](index=2&type=section&id=Snap-on%20Tools%20Group) The Snap-on Tools Group achieved **1.9% sales growth** and **1.6% organic growth**, maintaining a **23.8% operating margin** Snap-on Tools Group Q2 Performance | Metric | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change | | :--- | :--- | :--- | :--- | | Segment Sales | $491.0 | $482.0 | +1.9% | | Organic Sales Change | +1.6% | N/A | N/A | | Operating Earnings | $116.7 | $114.8 | +1.7% | | Operating Margin | 23.8% | 23.8% | 0 bps | - The **organic sales increase** was driven by **higher sales in the U.S.**, while **international operations were essentially flat**[7](index=7&type=chunk) [Repair Systems & Information Group](index=2&type=section&id=Repair%20Systems%20%26%20Information%20Group) The Repair Systems & Information Group achieved **3.0% sales growth** and **2.3% organic growth**, improving its operating margin by **60 bps** Repair Systems & Information Group Q2 Performance | Metric | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change | | :--- | :--- | :--- | :--- | | Segment Sales | $468.6 | $454.8 | +3.0% | | Organic Sales Change | +2.3% | N/A | N/A | | Operating Earnings | $119.8 | $113.6 | +5.5% | | Operating Margin | 25.6% | 25.0% | +60 bps | - **Organic growth** was driven by **higher activity with OEM dealerships** and **increased sales of diagnostic and repair information products**, partially offset by **lower volumes of undercar equipment**[8](index=8&type=chunk) [Financial Services](index=3&type=section&id=Financial%20Services) Financial Services reported a **1.2% revenue increase** to **$101.7 million**, with operating earnings decreasing **2.8%** Financial Services Q2 Performance | Metric | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change | | :--- | :--- | :--- | :--- | | Revenue | $101.7 | $100.5 | +1.2% | | Operating Earnings | $68.2 | $70.2 | -2.8% | | Originations | $293.0 | $308.1 | -4.9% | [2025 Outlook](index=3&type=section&id=2025%20Outlook) Snap-on anticipates continued progress in 2025 by leveraging its capabilities in automotive repair and expanding into adjacent markets and critical industries. The company projects capital expenditures to be approximately $100 million and expects a full-year effective income tax rate between 22% and 23% - The company expects to make **ongoing progress** along its **runways for coherent growth**, including **expansion in automotive repair, adjacent markets, and critical industries**[11](index=11&type=chunk) - Projected capital expenditures for 2025 are **approximately $100 million**[11](index=11&type=chunk) - The full-year 2025 effective income tax rate is anticipated to be in the range of **22% to 23%**[12](index=12&type=chunk) Consolidated Financial Statements [Condensed Consolidated Statements of Earnings](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Earnings) For the three months ended June 28, 2025, net sales were flat at $1,179.4 million. Gross profit slightly decreased to $595.5 million. Due to higher operating expenses and the absence of a prior-year legal benefit, operating earnings fell to $327.3 million from $350.5 million. Net earnings attributable to Snap-on were $250.3 million, resulting in a diluted EPS of $4.72 Q2 2025 vs Q2 2024 Statement of Earnings | Metric | Q2 2025 ($ millions) | Q2 2024 ($ millions) | | :--- | :--- | :--- | | Net sales | $1,179.4 | $1,179.4 | | Gross profit | $595.5 | $597.3 | | Operating earnings | $327.3 | $350.5 | | Net earnings attributable to Snap-on | $250.3 | $271.2 | | Diluted EPS | $4.72 | $5.07 | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 28, 2025, Snap-on's total assets increased to $8.20 billion from $7.90 billion at year-end 2024, driven by higher cash and inventories. Total liabilities remained stable at $2.46 billion. Total shareholders' equity grew to $5.74 billion from $5.42 billion, reflecting retained earnings growth Balance Sheet Summary | Metric | June 28, 2025 ($ millions) | Dec 28, 2024 ($ millions) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $1,458.3 | $1,360.5 | | Total current assets | $4,219.6 | $3,989.4 | | Total assets | $8,201.8 | $7,896.8 | | **Liabilities and Equity** | | | | Total current liabilities | $941.5 | $961.5 | | Long-term debt | $1,186.0 | $1,185.5 | | Total liabilities | $2,462.3 | $2,479.8 | | Total equity | $5,739.5 | $5,417.0 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the first six months of 2025, net cash provided by operating activities was $535.7 million, a decrease from $649.8 million in the prior year, mainly due to changes in working capital. Net cash used in investing activities was $78.0 million. Financing activities used $364.5 million, primarily for dividends and treasury stock purchases, resulting in a year-to-date increase in cash of $97.8 million Six Months Ended Cash Flow Summary | Metric | Six Months Ended June 28, 2025 ($ millions) | Six Months Ended June 29, 2024 ($ millions) | | :--- | :--- | :--- | | Net cash provided by operating activities | $535.7 | $649.8 | | Net cash used by investing activities | $(78.0) | $(123.4) | | Net cash used by financing activities | $(364.5) | $(292.1) | | Effect of exchange rate changes on cash | $4.6 | $(3.1) | | **Increase in cash and cash equivalents** | **$97.8** | **$231.2** | Supplemental Information [Non-GAAP Measures and Supplemental Data](index=10&type=section&id=Non-GAAP%20Measures%20and%20Supplemental%20Data) The report provides supplemental non-GAAP data to offer insight into the separate performance of Snap-on's core non-financial services Operations and its Financial Services business. This data presents the Financial Services segment on an equity method basis within the Operations results, clarifying the distinct financial performance and position of each business unit. For Q2 2025, the Operations segment generated $250.3 million in net earnings, while the Financial Services segment contributed $38.1 million - Supplemental data is provided to show the performance of Snap-on's **non-financial services ("Operations")** and **Financial Services businesses separately**[28](index=28&type=chunk) - The supplemental data for Operations reflects results with Financial Services presented on the **equity method**[29](index=29&type=chunk) Q2 2025 Non-GAAP Net Earnings Attributable to Snap-on Inc. | Metric | Operations ($ millions) | Financial Services ($ millions) | | :--- | :--- | :--- | | Q2 2025 | $250.3 | $38.1 | | Q2 2024 | $271.2 | $38.8 |

POLAND - 2025/01/04: In this photo illustration, the Snap-on company logo is seen displayed on a ... More smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Snap-on (NYSE:SNA), a prominent American designer, manufacturer, and marketer of premium tools and equipment for the transportation sector, is set to report its earnings on Thursday, July 17, 2025. For traders focusing on events, evaluating the stock's historical perfor ...

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short- term price performance of a stock. Analysts on Wall Street project that Snap-On (SNA) will announce quarterly earnings of $4.61 per share in its forthcoming report, representi ...