Snap-On, Inc. (NYSE:SNA) Q4 2022 Earnings Conference Call February 2, 2023 10:00 AM ET Company Participants Sara Verbsky - VP, IR Nicholas Pinchuk - Chairman, CEO & President Aldo Pagliari - SVP, Finance & CFO Conference Call Participants Luke Junk - Robert W. Baird & Co. Elizabeth Suzuki - Bank of America Merrill Lynch David MacGregor - Longbow Research Ivan Feinseth - Tigress Financial Partners Operator Good day, and welcome to the Snap-on Incorporated 2022 Fourth Quarter and Full Year Results Conference ...

Quarterly Financial Review Third Quarter 2022 Snap-an Incorporated Who We Are OUR MISSION The most valued productivity solutions in the world BELIEFS We deeply believe in: Non-negotiable Product and Workplace Safety Uncompromising Quality Passionate Customer Care Fearless Innovation Rapid Continuous Improvement VALUES Our behaviors define our success: We demonstrate Integrity. We tell the Truth. We respect the Individual. We promote Teamwork. We Listen. VISION To be acknowledged as the: Brands of Choice Emp ...

Financial Data and Key Metrics Changes - Reported sales for the quarter were $1,136.6 million, an increase of $55.2 million or 5.1% year-over-year, with organic sales growth of 8.4% [11][53] - Operating income was $311.9 million, compared to $286 million last year, with an operating margin of 25.5%, up 100 basis points from 24.5% in 2021 [57] - Earnings per share (EPS) was $4.27, reflecting a 13.6% increase from the previous year [58] Business Line Data and Key Metrics Changes - **C&I Group**: Sales increased to $359.1 million, up from $350.5 million last year, with a 7.6% organic sales gain [59] - **Tools Group**: Sales reached $520.6 million, a 7.5% increase from $484.1 million in 2021, with a 9.3% organic sales gain [63] - **RS&I Group**: Sales were $416.8 million, up from $398.6 million a year ago, reflecting a 7% organic sales gain [66] Market Data and Key Metrics Changes - The automotive repair market remains positive, with increased spending on vehicle maintenance and repair, and a growing number of automotive repair technicians [15][16] - Demand for new and used cars is high, but supply remains limited, leading to strong repair demand [19] - The C&I segment saw gains in North America, Europe, and Asia despite supply chain challenges [25] Company Strategy and Development Direction - The company is focused on leveraging its strengths in product, brand, and people to navigate current market challenges and drive growth [10][82] - Snap-on is committed to innovation and customer connection, developing new products based on workplace insights [27] - The company aims to expand its presence in critical industries and automotive repair, capitalizing on the increasing complexity of vehicles [19][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to overcome challenges and continue its positive trajectory, citing strong market fundamentals [10][85] - The company anticipates ongoing growth opportunities in both automotive repair and critical industries [26][85] - Management highlighted the resilience of their franchisees and the overall positive sentiment in the market [40][85] Other Important Information - The company reported a consolidated gross margin of 48.7%, which declined 150 basis points from the previous year due to higher material costs [54] - Operating expenses as a percentage of net sales improved to 27%, down from 30.1% last year [56] - Cash provided by operating activities was $140.8 million, down from $238.2 million last year, primarily due to increased working investment [75] Q&A Session Summary Question: Can we talk about Tools and the strong performance in tool storage? - Management noted that tool storage had a double-digit growth, driven by new product offerings and increased demand for larger storage solutions [94][95] Question: What is the current inventory situation on the vans? - Management indicated that inventory levels are up, with franchisees requesting more inventory, and sell-through rates improved compared to the previous quarter [100][101] Question: Is the strength in undercar equipment related to the collision part of the business? - Management confirmed that the collision business has been a strong performer, supported by investments in technology and increased spending from independent repair shops [102][104] Question: What is driving the increase in loan originations? - Management attributed the increase to product availability and technician optimism, with a strong demand for new products driving higher originations [109][110] Question: How do rising interest rates affect the credit company? - Management stated that rising interest rates have minimal immediate impact on borrowing capabilities, as the company funds long-term and maintains a stable cost of funds [121][122]

Quarterly Financial Review Second Quarter 2022 Snap-an Incorporated Who We Are OUR MISSION The most valued productivity solutions in the world BELIEFS We deeply believe in: Non-negotiable Product and Workplace Safety Uncompromising Quality Passionate Customer Care Fearless Innovation Rapid Continuous Improvement VALUES Our behaviors define our success: We demonstrate Integrity. We tell the Truth. We respect the Individual. We promote Teamwork. We Listen. VISION To be acknowledged as the: Brands of Choice Em ...

Snap-on Incorporated (NYSE:SNA) Q1 2022 Earnings Conference Call April 21, 2022 10:00 AM ET Company Participants Sara Verbsky - Vice President, Investor Relations Nick Pinchuk - Chief Executive Officer Aldo Pagliari - Chief Financial Officer Conference Call Participants Gary Prestopino - Barrington Research Christopher Glynn - Oppenheimer David MacGregor - Longbow Research Luke Junk - Baird Bret Jordan - Jefferies Sarah Park - Bank of America Operator Good day and welcome to the Snap-on Incorporated First Q ...

Quarterly Financial Review First Quarter 2022 Snap-an Incorporated Who We Are OUR MISSION The most valued productivity solutions in the world BELIEFS We deeply believe in: Non-negotiable Product and Workplace Safety Uncompromising Quality Passionate Customer Care Fearless Innovation Rapid Continuous Improvement VALUES Our behaviors define our success: We demonstrate Integrity. We tell the Truth. We respect the Individual. We promote Teamwork. We Listen. VISION To be acknowledged as the: Brands of Choice Emp ...

Snap-on Incorporated (NYSE:SNA) Q4 2021 Earnings Conference Call February 3, 2021 10:00 AM ET Company Participants Sara Verbsky - Vice President of Investor Relations Nick Pinchuk - Chief Executive Officer Aldo Pagliari - Chief Financial Officer Conference Call Participants Scott Stember - CL King Bret Jordan - Jefferies Luke Junk - Baird Elizabeth Suzuki - Bank of America David MacGregor - Longbow Research Operator Good day and welcome to the Snap-on Inc. 2021 Fourth Quarter and Full Year Results Conferen ...

Financial Data and Key Metrics Changes - Reported sales for Q3 2021 were $1.377 billion, up 10.2% from the previous year, with organic sales growth of 7% [7][28] - Operating income was $201.3 million, an increase of $15.6 million from last year, with an operating margin of 19.4%, down 30 basis points [8][30] - EPS for the quarter was $3.57, up $0.29 or 8.8% from last year [9][31] Business Line Data and Key Metrics Changes - C&I group sales increased 13.9% to $351.4 million, with a 10.6% organic sales gain [15][32] - Tools Group sales were $471.4 million, up 4.8%, with a 3.7% organic gain [18][35] - RS&I Group sales rose 14.8% to $364.4 million, including a 9.9% organic uplift [23][36] Market Data and Key Metrics Changes - Vehicle repair market remains strong, with technicians optimistic about the future [11][12] - C&I markets showed improvement globally, with gains in North America, Europe, and Asia [13] - Demand for new and used cars is high, contributing to the recovery in dealership repair and maintenance [12] Company Strategy and Development Direction - Company emphasizes innovation and customer connection as key drivers for growth [14] - Focus on expanding product offerings and enhancing franchisee capabilities [20] - Continued investment in product development and brand positioning to capitalize on market opportunities [47][48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenges posed by COVID-19, inflation, and supply chain disruptions [46][47] - The outlook is described as bright, with expectations for continued growth and strong performance [48][49] Other Important Information - The company reported a gross margin of 50.2%, an improvement from the previous year [29] - Delinquencies in financial services were down, reflecting the strength of the business model [9][40] - The company has a strong cash position with $735.5 million at quarter-end [43] Q&A Session Summary Question: Sequential performance of Snap-on tools - Management noted that Snap-on tools are on an upward trajectory, with better sequential performance than typical seasonal declines [53][56] Question: Revenue gaps and backlog build - Management indicated that while there may have been some backlog, overall performance in critical industries was strong [57][58] Question: Balance sheet and stock performance - Management acknowledged the stock price reaction but emphasized their focus on agile share buyback strategies [59] Question: Performance breakdown within the Tools Group - Management reported that hand tools were down compared to last year, while larger ticket items saw double-digit growth [63][64] Question: Highlights from the Franchisee Conference - Management noted that all product categories showed substantial gains, with franchisees expressing strong confidence [67][68] Question: Electric vehicle (EV) related business - Management confirmed that projects related to EVs contributed to RS&I increases, indicating a positive outlook for future EV-related opportunities [68][69]

| --- | --- | --- | --- | |---------------------------|-------|-------|-------| | | | | | | | | | | | Quarterly Financial | | | | | Review Third Quarter 2021 | | | | | | | | | | | | | | Cautionary Statement ▪ These slides should be read in conjunction with comments from the October 21, 2021 conference call. The financial statement information included herein is unaudited. ▪ Statements made during the October 21, 2021 conference call and/or information included in this presentation may contain statements, in ...

Snap-on Incorporated (NYSE:SNA) Q2 2021 Earnings Conference Call July 22, 2021 10:00 AM ET Â Company Representatives Nick Pinchuk - Chief Executive Officer Aldo Pagliari - Chief Financial Officer Sara Verbsky - Vice President, Investor Relations Conference Call Participants Bret Jordan - Jefferies Curtis Nagle - Bank of America Scott Stember - C.L. King Luke Junk - Baird Christopher Glynn - Oppenheimer David MacGregor - Longbow Research Gary Prestopino - Barrington Research Operator Good day and welcome to ...