KENOSHA, Wis. — July 17, 2025 — Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the second quarter of 2025.

•Net sales of $1,179.4 million in the second quarter of 2025 were unchanged from 2024 levels, reflecting an $8.6 million, or 0.7%, organic decline offset by $8.6 million of favorable foreign currency translation.

•Operating earnings before financial services for the quarter of $259.1 million, or 22.0% of net sales, compared to $280.3 million, or 23.8% of net sales, last year, which included a benefit of $11.2 million, or 100 basis points, for the final payments received associated with a legal matter (the “legal payments”).

•Financial services revenue in the quarter of $101.7 million compared to $100.5 million in 2024; financial services operating earnings of $68.2 million compared to $70.2 million last year.

•Consolidated operating earnings for the quarter of $327.3 million, or 25.5% of revenues (net sales plus financial services revenue), compared to $350.5 million, or 27.4% of revenues, in 2024, which included a benefit of $11.2 million, or 90 basis points, for the legal payments.

•The second quarter effective income tax rate was 22.5% in 2025 and 22.6% in 2024.

•Net earnings in the quarter of $250.3 million, or $4.72 per diluted share, compared to net earnings of $271.2 million, or $5.07 per diluted share, a year ago. In 2024, net earnings included an $8.7 million, or $0.16 per diluted share, after-tax benefit from the legal payments.

See “Non-GAAP Measures” below for a definition of, and further explanation about, organic sales.

“We’re encouraged by our second quarter results, from the return of sales growth in the U.S. Tools Group to the resilient gross margins and solid operating earnings performance of the overall enterprise, all achieved against the persistent headwinds of general uncertainty and trade turbulence,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “During the period, we maintained our actions to overcome the continued variation in confidence among vehicle repair technicians, driving the product-development, manufacturing and marketing programs that enabled our pivot to quick payback items, gaining significant traction in matching current customer preferences and reestablishing positive momentum in the quarter. Beyond that, we advanced with OEM dealerships and independent shop owners and managers, particularly with our powerful diagnostics platforms, and secured gains in the critical precision-torque arena, where technological progress is increasing the need for sophisticated solutions across essential repair markets. Despite the volatile nature of the ongoing environment, we believe our deeply-rooted strategy to make in the markets where we sell, our structural strengths in broadly-established facilities, know-how and people, and our strong commitment to our Snap-on Value Creation processes, position us well in navigating the multi-varied challenges of today and tomorrow. As such, we proceed with confidence that our balanced approach of growth and improvement will prevail as we move forward and upward. Finally, I want to thank our franchisees and associates worldwide for their many contributions, for their unwavering dedication, and for their steadfast belief in our ability to take full advantage of the abundant opportunities ahead.”

Commercial & Industrial Group segment sales of $347.8 million in the quarter compared to $372.0 million last year, reflecting a $28.7 million, or 7.6%, organic decline, partially offset by $4.5 million of favorable foreign currency translation. The organic decrease is primarily due to reductions in the segment’s Asia Pacific and European-based hand tools businesses, and in activity with customers in critical industries. These declines were partially offset by a rise in the specialty torque operation.

Operating earnings of $46.9 million in the period compared to $62.2 million in 2024. The operating margin (operating earnings as a percentage of segment sales) of 13.5% compared to 16.7% a year ago.

Snap-on Tools Group segment sales of $491.0 million in the quarter compared to $482.0 million last year, reflecting a $7.8 million, or 1.6%, organic sales gain and $1.2 million of favorable foreign currency translation. The organic increase is due to higher sales in the U.S., while activity in the segment’s international operations was essentially flat.

Operating earnings of $116.7 million in the period compared to $114.8 million in 2024. The operating margin of 23.8% was unchanged from last year.

Repair Systems & Information Group segment sales of $468.6 million in the quarter compared to $454.8 million last year, reflecting a $10.7 million, or 2.3%, organic sales increase and $3.1 million of favorable foreign currency translation. The organic gain includes higher activity with OEM dealerships and increased sales of diagnostic and repair information products to independent repair shop owners and managers, partially offset by lower volumes of undercar equipment.

Operating earnings of $119.8 million in the period compared to $113.6 million in 2024. The operating margin of 25.6% compared to 25.0% a year ago.

Financial Services operating earnings of $68.2 million on revenue of $101.7 million in the quarter compared to operating earnings of $70.2 million on revenue of $100.5 million last year. Originations of $293.0 million in the second quarter represented a decrease of $15.1 million, or 4.9%, from 2024 levels.

Corporate expenses in the second quarter of $24.3 million compared to $10.3 million last year, which included a benefit from the legal payments.

We believe that our markets and our operations possess and have demonstrated continuing and considerable resilience against the uncertainties of the current environment. In 2025, Snap-on expects to make ongoing progress along its decisive runways for coherent growth, leveraging capabilities already proven in the automotive repair arena, developing and expanding its professional customer base, not only in automotive repair, but in adjacent markets, additional geographies and other areas, including extending in critical industries, where the cost and penalties for failure can be high. In pursuit of these initiatives, we project that capital expenditures in 2025 will approximate $100 million, of which $42.6 million was incurred in the first six months of the year.

Snap-on currently anticipates that its full-year 2025 effective income tax rate will be in the range of 22% to 23%.

A discussion of this release will be webcast on Thursday, July 17, 2025, at 9:00 a.m. Central Time, and a replay will be available for at least 10 days following the call. To access the webcast, visit https://www.snapon.com/EN/Investors/Investor-Events and click on the link to the call. The slide presentation accompanying the call can be accessed under the Downloads tab in the webcast viewer, as well as on the Snap-on website at https://www.snapon.com/EN/Investors/Financial-Information/Quarterly-Earnings.

References in this release to “organic sales” refer to sales from continuing operations calculated in accordance with generally accepted accounting principles in the United States (“GAAP”), adjusted to exclude acquisition-related sales and the impact of foreign currency translation. Management evaluates the company’s sales performance based on organic sales growth, which primarily reflects growth from the company’s existing businesses as a result of increased output, expanded customer base, geographic expansion, new product development and pricing changes, and excludes sales contributions from acquired operations the company did not own as of the comparable prior-year reporting period. Organic sales also exclude the effects of foreign currency translation as foreign currency translation is subject to volatility that can obscure underlying business trends. Management believes that the non-GAAP financial measure of organic sales is meaningful to investors as it provides them with useful information to aid in identifying underlying growth trends in the company’s businesses and facilitates comparisons of its sales performance with prior periods.

Snap-on Incorporated is a leading global innovator, manufacturer, and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks including those working in vehicle repair, aerospace, the military, natural resources, and manufacturing. From its founding in 1920, Snap-on has been recognized as the mark of the serious and the outward sign of the pride and dignity working men and women take in their professions. Products and services are sold through the company’s network of widely recognized franchisee vans, as well as through direct and distributor channels, under a variety of notable brands. The company also provides financing programs to facilitate the sales of its products and to support its franchise business. Snap-on, an S&P 500 company, generated sales of $4.7 billion in 2024, and is headquartered in Kenosha, Wisconsin.

For additional information, please visit www.snapon.com or contact:

Investors:                                Media:

Sara Verbsky                                Samuel Bottum

262/656-4869                                262/656-5793

The following non-GAAP supplemental data is presented for informational purposes to provide readers with insight into the information used by management for assessing the operating performance of Snap-on Incorporated's ("Snap-on") non-financial services ("Operations") and Financial Services businesses.

The supplemental Operations data reflects the results of operations and financial position of Snap-on's tools, diagnostics, equipment products, software, and other non-financial services operations with Financial Services presented on the equity method. The supplemental Financial Services data reflects the results of operations and financial position of Snap-on's U.S. and international financial services operations. The financing needs of Financial Services are met through intersegment borrowings and cash generated from Operations; Financial Services is charged interest expense on intersegment borrowings at market rates. Income taxes are charged to Financial Services on the basis of the specific tax attributes generated by the U.S. and international financial services businesses. Transactions between the Operations and Financial Services businesses are eliminated to arrive at the Condensed Consolidated Financial Statements.