Snap-on Announces Third Quarter 2026 Results

Nick Pinchuk, Chairman and chief executive officer of Snap-on

“Our third quarter was mixed with varied outcomes among our business groups. The results were principally marked by the unprecedentedly accelerated rise in diesel prices, which in our mobile van channel prompted franchisees to reduce inventories despite very stable demand from their technician customers, substantially impacting the Tools Group in the period and overcoming what was an encouraging, record-setting performance in the Commercial & Industrial Group, led by gains in the critical industries and the precision torque arena”

Nick Pinchuk, Chairman and chief executive officer of Snap-on

“But even with the challenges raised by the extreme turbulence, Snap-on Value Creation continued to support a resilience that kept gross margins strong. The headwinds notwithstanding, we remained confident on the path forward, investing in innovations identified through customer connection and developed by our engineering teams to solve essential tasks…many of which recently received awards from Motor Magazine and Professional Tool & Equipment News…reinforcing the power of the Snap-on brand…even as we engaged the difficulties. As we look ahead, we believe the Tools Group is well-positioned with its robust array of quick-payback products to drive progress as the wave passes; our proprietary databases are increasingly effective at streamlining work in independent vehicle repair shops, and we possess considerable momentum across the critical industries based on the growing popularity of our customized solutions. And, we believe these strengths will combine to reestablish and extend our positive trajectory. Finally, I want to thank our franchisees and associates for their many contributions, for their unwavering commitment to meet the macro environment, and for their steadfast faith in our ability to take full advantage of the abundant opportunities in our future.”