In-line quarter with no guidance raise and mixed margins suggests limited near-term catalyst. Monitor commentary on technician demand and OEM dealership activity in the Repair Systems segment. The two acquisitions (Hi-Force, Diesel Laptops) may provide future growth but near-term integration costs are a watch item. Dividend and buyback continue at steady pace.
Price Chart
Executive Summary
Snap-on reported Q2 2026 results with a modest beat: EPS of $4.96 (vs $4.95 consensus, +0.2%) and revenue of $1.235B (vs $1.22B consensus, +1.2%). Revenue grew 4.7% YoY with organic growth of 3.0%, and gross margin improved 90bps to 51.4%. However, segment margins were mixed — Commercial Industrial Group surged 330bps while Snap-on Tools Group and Repair Systems Information Group both contracted. No guidance was raised, and management commentary highlighted ongoing uncertainty among technician customers and supply chain disruptions. The quarter was solid but lacked a catalyst for upside.
Key Financial Metrics
Key Facts
- Diluted EPS $4.96 vs consensus $4.95 (0.2% beat)
- Net sales $1,235.1M vs consensus $1.22B (1.2% beat), up 4.7% YoY
- Organic sales growth of 3.0%
- Gross margin improved to 51.4% from 50.5% a year ago
- Commercial Industrial Group operating margin +330bps to 16.8%
- Snap-on Tools Group operating margin -120bps to 22.6%
- Repair Systems Information Group operating margin -160bps to 24.0%
- Completed acquisitions of Hi-Force Hydraulic Tools and Diesel Laptops for $154M
- Share repurchases of $91.4M and dividends of $126.4M in Q2
- Operating cash flow $271.5M, free cash flow $248.4M
Financial Impact
Modest EPS and revenue beat with no guidance change; mixed segment margins limit upside
Risk Factors
- Broad uncertainty among technician customer base in the U.S.
- International supply chain disruptions and global conflicts
- OEM dealership weakness pressuring Repair Systems segment
- Financial services originations declining 4.1% YoY
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000091440-26-000141 |
| Document: sna-20260723.htm | 0000091440-26-000141 |
| Document: 0000091440-26-000141-index-headers.html | 0000091440-26-000141 |
| Document: 0000091440-26-000141-index.html | 0000091440-26-000141 |
| Document: 0000091440-26-000141.txt | 0000091440-26-000141 |
| 8-K Data (Synthetic) | 0000091440-26-000141 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $356.46 $357.02 | ▼ −0.16% | ▼ −0.68% | $357.88 (−0.40%) |
Aug 19, 2026 9w ago | Insider Cluster | $391.27 $393.39 | ▲ +0.54% | ▲ +0.13% | $357.88 (−8.53%) |
Aug 13, 2026 10w ago | Insider Cluster | $403.56 $401.22 | ▼ −0.58% | ▼ −0.11% | $357.88 (−11.32%) |
Aug 11, 2026 10w ago | Insider Cluster | $408.44 $404.63 | ▼ −0.93% | ▼ −1.63% | $357.88 (−12.38%) |
Jul 23, 2026 13w ago | 8-K | $395.41 $404.12 | ▲ +2.20% | ▲ +2.10% | $357.88 (−9.49%) |
Jun 11, 2026 19w ago | Insider Cluster | $387.48 $386.63 | ▼ −0.22% | ▼ −1.98% | $357.88 (−7.64%) |
May 5, 2026 24w ago | 144 | $386.32 $370.67 | ▼ −4.05% | ▼ −3.72% | $357.88 (−7.36%) |
Apr 23, 2026 26w ago | 8-K | $390.75 $378.42 | ▼ −3.16% | ▼ −3.94% | $357.88 (−8.41%) |
US Market Status
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