Snap-on (SNA) Q2 Earnings Miss Estimates, Organic Sales Decline

The gross profit of $597.3 million decreased 1.1% year over year, while the gross margin contracted 10 basis points (bps) to 50.6%. The company's operating earnings before financial services totaled$ 280.3 million, up 1.2% year over year. As a percentage of sales, operating earnings before financial services expanded 50 bps to 23.8% in the quarter. Financial Services operating earnings were $70.2 million in the quarter, up 4.9% year over year. Consolidated operating earnings (including financial services) w ...