Snap-On posts rise in quarterly profit on strong industrial tools demand

Published: 2026-04-23 09:39:59 ET SNA

Published on 04/23/2026 at 09:39 am EDT

April 23 (Reuters) - Industrial toolmaker Snap-On reported higher first-quarter profit and revenue on Thursday, driven by steady growth in the commercial and industrial segment, underscoring strong demand for its tools and services used in critical industries.

The segment serves high-stakes sectors such as aviation, defense, power generation, that require precision, torque, and customized solutions.

Revenue from this unit rose to $381 million from $343.9 million a year ago, supported by higher sales in each of the segment's operations, led by critical industries and the specialty torque business.

The company sees strong demand for its tools and services in the aviation sector, driven by robust demand for fuel-efficient aircraft amid delayed plane deliveries for customers, Boeing and Airbus.

The company said it aims to expand its professional customer base, not only in automotive repair, but in adjacent markets and additional geographies, including extending in critical industries, where the cost and penalties for failure are high.

For this, it projects capital expenditure of about $100 million in 2026.

However, the company said it faces significant headwinds from widespread uncertainty among its U.S. technician customer base, international supply chain disruptions and global conflicts.

Snap-On's profit rose to $4.69 per share in the first quarter, up from $4.51 per share a year ago. Analysts, on average, expected an adjusted profit of $4.75 per share.

The toolmaker's first-quarter revenue rose to $1.21 billion, compared with $1.14 billion a year earlier.

(Reporting by Parth Chandna; Editing by Diti Pujara)