Snap-on Inc (SNA) Sales And Profit Beat Forecasts

Tool maker Snap-on Incorporated (NYSE: SNA) announced 1st quarter financial results on Tuesday that beat Wall Street forecasts.

Snap-on Inc. reported that its 1st quarter
net income rose 6% to $36.8 million, or 63 cents per share, up from $34.8 million, or 60 cents per share, a year earlier.

Sales growth at Snap-on Inc. was even stronger, rising to $622 million, up from $573 million a year ago.

According to a poll of analysts by FactSet Research, the average Wall Street estimate called for 50 cents earnings per share, on revenue of $587 million.