Investing.com - Snap-On reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Snap-On announced earnings per share of $2.6 on revenue of $852.2M. Analysts polled by Investing.com anticipated EPS of $2.74 on revenue of $882.69M. That with comparison to EPS of $3.01 on revenue of $921.7M in the same period a year before.Snap-On had reported EPS of $3.08 on revenue of $955.2M in the previous quarter.Analysts are expecting EPS of $2.44 and revenue of $820.91M in the upcoming quarter.
Snap-On shares are down 32% from the beginning of the year and are trading at $114.66 , down-from-52-week-high.They are under-performing the S&P 500 which is down 12.99% year to date.
Snap-On follows other major Consumer Cyclical sector earnings this month
Snap-On's report follows an earnings missed by Nike on March 24, who reported EPS of $0.53 on revenue of $10.1B, compared to forecasts EPS of $0.59 on revenue of $9.81B.
Levi Strauss A had beat expectations on April 7 with first quarter EPS of $0.4 on revenue of $1.51B, compared to forecast for EPS of $0.35 on revenue of $1.46B.
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