Snap-on Incorporated reported diluted earnings per share (EPS) of $4.82 for the fourth quarter of 2024, a 1.5% increase from $4.75 in Q4 2023. Net sales for the quarter were $1,198.7 million, a slight increase from $1,196.6 million in the prior year, with organic sales gaining 0.2%.
The company's operating margin before financial services improved by 50 basis points to 22.1% in Q4 2024. For the full year 2024, diluted EPS reached $19.51, up 4.0% from $18.76 in 2023, and net earnings attributable to Snap-on Inc. were $1,043.9 million, a 3.2% increase from $1,011.1 million in 2023.
Segment performance in Q4 included a 3.9% organic gain in the Commercial & Industrial Group, driven by higher sales to critical industries, particularly specialty torque, resulting in an operating margin of 16.7%, up 180 basis points. The Repair Systems & Information Group saw a 1.6% organic sales increase, with its operating margin improving by 150 basis points to 26.6%.
The Snap-on Tools Group experienced a 1.4% organic sales decrease, primarily due to lower activity in the U.S., though international operations saw higher sales. Management noted that the Tools Group continued to narrow the gap versus prior periods by pivoting to quick payback items. For 2025, Snap-on projects 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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