Snap-on Q3 FY2026: EPS $4.64 misses as Tools Group organic sales fall 7.0%
Snap-on's fiscal third quarter missed the $4.98 consensus EPS estimate, printing $4.64 on net sales of $1,183.7 million, down 0.6% from a year ago. The shortfall is not a demand collapse: the Commercial & Industrial Group put up a record quarter while franchisees in the van channel cut inventory. Read it as a channel-inventory quarter with an intact gross margin, not yet a recovery.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $4.64 landed below the $4.98 consensus estimate and below $5.02 a year ago. Last year's quarter carried a $0.31 per-share benefit from a legal settlement, so the like-for-like comparison is $4.64 against roughly $4.71, down 1.5% rather than 7.6%. Operating earnings before financial services were $248.1 million, or 21.0% of net sales, versus 23.4% last year, which included a 190-basis-point lift from that settlement.
Net sales came in at $1,183.7 million, down 0.6% from $1,190.8 million a year ago, as a 2.8% organic decline was cushioned by $25.6 million of acquisition revenue. Cost of goods sold was $580.1 million, leaving gross profit of $603.6 million against $605.9 million last year, a 51.0% margin versus 50.9%, so pricing and mix held. The mix underneath is the story: Commercial & Industrial rose 7.4% organically while Snap-on Tools fell 7.0%.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-10-23
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