Snap-on’s Q4 Earnings Beat Can’t Hide Revenue Miss, Will Growth Stall?
Snap-on posts Q4 FY23 results with a 3.5% sales increase to $1.197 billion, driven by organic gains and favorable currency translation. Despite missing consensus, the company's gross profit rises to $577.6 million, with operating earnings climbing to $325.8 million, surpassing EPS expectations at $4.75. CEO Nick Pinchuk notes positive momentum in critical industries and strategic acquisition benefits. Snap-on outlines FY24 outlook, expecting capital expenditures of $100-110 million.
