Snap-on Reports $247M Net Income in Q1 FY2026, Up 2.7% Year-Over-Year
Snap-on Inc (NYSE: SNA), a professional tool and equipment manufacturer, posted net income of $247 million for the quarter ending April 4, 2026, compared to $240.5 million in the prior-year period.
Snap-on Inc (NYSE: SNA), a professional tool and equipment manufacturer, reported net income of $247 million for the quarter ending April 4, 2026, up 2.7% from $240.5 million in the same period a year earlier. Diluted earnings per share rose to $4.69 from $4.51. Read more earnings reports.
Revenue climbed 5.8% to $1.21 billion from $1.14 billion in the first quarter of fiscal 2025. The company reported operating income of $250.8 million, up 3.2% from $243.1 million in the prior-year quarter.
Gross profit for the quarter reached $608.3 million, representing a 5.2% increase from $578.5 million a year earlier. The company's gross margin improved to 50.8% from 51.0% in the same quarter last year.
Operating expenses totaled $357.5 million, up from $335.4 million in the first quarter of fiscal 2025. The increase reflected higher labor and related expenses across the company's business segments.
Balance Sheet Strengthens
Total assets grew to $8.52 billion as of April 4, 2026, compared to $8.41 billion at the start of the fiscal year on January 3, 2026. Cash and cash equivalents rose to $1.75 billion from $1.62 billion over the same period.
Long-term debt stood at $886.9 million, down from $1.19 billion at the beginning of the year. Total stockholders' equity increased to $5.96 billion from $5.93 billion.
Cash Flow Performance
The company generated $368.7 million in cash from operations during the quarter, a 23.5% increase from $298.5 million in the prior-year period. Cash used in investing activities totaled $28.6 million, compared to $32 million a year earlier.
Cash used in financing activities amounted to $211.1 million, up from $193.6 million in the first quarter of fiscal 2025. The company ended the quarter with 51.8 million shares outstanding, down from 52.4 million a year earlier.
Segment Performance
The company's three main operating segments reported mixed results. The Commercial & Industrial Group generated revenue of $308.8 million, while the Snap-on Tools segment posted $486 million and Repair Systems & Information delivered $412.4 million.
Operating income by segment showed the Commercial & Industrial unit contributing $54.9 million, Snap-on Tools generating $105 million, and Repair Systems & Information producing $119.5 million before corporate eliminations and expenses.
| Financial Metric | Q1 FY2026 | Q1 FY2025 |
|---|---|---|
| Total Revenue | $1,207.2M | $1,141.1M |
| Gross Profit | $608.3M | $578.5M |
| Operating Income | $250.8M | $243.1M |
| Net Income | $247.0M | $240.5M |
| EPS (Diluted) | $4.69 | $4.51 |
| Cash from Operations | $368.7M | $298.5M |
Accounts receivable stood at $890.7 million as of April 4, 2026, compared to $881.4 million at the start of the year. Inventory decreased slightly to $1.02 billion from $1.03 billion.
Goodwill totaled $1.10 billion at quarter end, down from $1.11 billion at the beginning of fiscal 2026. Intangible assets declined to $267.2 million from $270.7 million.