Snap-on(US:SNA)2026-02-05 11:30Financial Performance - Fourth quarter 2025 net sales reached $1,231.9 million, an increase of $33.2 million or 2.8% from Q4 2024, with organic sales growth of $17.6 million or 1.4%[4] - Full year 2025 net sales totaled $4,743.2 million, reflecting an increase of $35.8 million or 0.8% from 2024, with an organic sales gain of $16.5 million or 0.3%[4] - Total net sales for Q4 2025 reached $1,231.9 million, a 2.8% increase from $1,198.7 million in Q4 2024[23] - Full year total revenues for 2025 were $5,156.1 million, compared to $5,108.4 million in 2024, reflecting a growth of 0.9%[23] - Net earnings for Q4 2025 were $267.0 million, slightly higher than $264.2 million in Q4 2024[27] - Full year net earnings for 2025 were $1,016.9 million, or $19.19 per diluted share, including a $16.2 million after-tax benefit from a legal settlement[4] Operating Earnings - Operating earnings before financial services for the quarter were $265.2 million, unchanged from last year, representing 21.5% of net sales compared to 22.1% in 2024[4] - Operating earnings for Q4 2025 were $339.6 million, up from $331.9 million in Q4 2024, indicating a 0.5% increase[23] - Operating earnings before financial services for the full year 2025 were $1,045.9 million, down from $1,068.8 million in 2024, a decrease of 2.1%[37] Segment Performance - The Commercial & Industrial Group segment reported sales of $398.1 million, a 2.8% organic gain, driven by higher activity in critical industries[6] - The Tools Group segment sales were $505.0 million, reflecting a 0.7% organic sales decline, primarily due to lower activity in the U.S.[8] - The Repair Systems & Information Group segment achieved sales of $467.8 million, a 1.0% organic sales increase, supported by higher activity with OEM dealerships[10] Cash and Assets - Cash and cash equivalents at the end of 2025 were $1,624.5 million, an increase from $1,360.5 million at the end of 2024[25] - Total assets increased to $8,412.3 million in 2025 from $7,896.8 million in 2024, marking a growth of 6.5%[25] - Total assets as of fiscal year-end 2025 were $7,204.4 million, up from $6,687.4 million in 2024, indicating a growth of 7.7%[40] - Cash and cash equivalents increased to $1,624.1 million in 2025 from $1,360.4 million in 2024, a rise of 19.4%[40] Liabilities and Retained Earnings - Total liabilities decreased slightly to $2,455.5 million in 2025 from $2,479.8 million in 2024[25] - Total liabilities decreased to $1,247.6 million in 2025 from $1,270.4 million in 2024, a reduction of 1.8%[40] - The company’s retained earnings rose to $8,137.5 million in 2025 from $7,584.3 million in 2024, reflecting a growth of 7.3%[25] Future Outlook - Snap-on anticipates capital expenditures of approximately $100 million in 2026 to support growth initiatives[13] - The company expects its full-year 2026 effective income tax rate to be in the range of 22% to 23%[14] Financial Services - Financial services revenue in Q4 2025 was $108.0 million, up from $100.5 million in 2024, with operating earnings of $74.4 million compared to $66.7 million last year[11] - Financial services revenue for 2025 was $412.9 million, an increase from $401.0 million in 2024, representing a growth of 3.7%[37]