Snap-on Incorporated reported diluted earnings per share (EPS) of $4.51 for the first quarter of 2025, an 8.1% decrease from $4.91 in Q1 2024. Net sales for the quarter were $1,141.1 million, a 3.5% decline compared to $1,182.3 million in the prior year, with organic sales decreasing by 2.9%.
The company's gross margin improved by 20 basis points to 50.7% over last year's level, and the Repair Systems & Information Group achieved a record first quarter operating margin of 25.7%, up 140 basis points. However, the Snap-on Tools Group experienced a 6.8% organic sales decrease, primarily due to lower U.S. activity and technician reluctance to purchase financed products amidst heightened macroeconomic uncertainty.
The Commercial & Industrial Group also saw a 2.9% organic decline, influenced by reduced activity with customers in critical industries, including lower sales to the military. Financial Services loan originations decreased by 10.9% to $268.7 million. For 2025, Snap-on continues to project capital expenditures of approximately $100 million and a full-year effective income tax rate in the range of 22% to 23%.
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