# Snap-on Tools Sales Fall 7% as Diesel Prices Prompt Inventory Cuts

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/38497
Published: 2026-10-23T00:04:34.000Z
Updated: 2026-10-23T00:04:34.000Z
Section: Business

> Companywide sales slipped 0.6% to $1.1837 billion, while net earnings fell to $243 million for the quarter ended Oct. 3.

Snap-on shares were down $12.45 at $356.46 at 4:10 p.m. ET (20:10 UTC) Oct. 22, after the company posted lower third-quarter sales and earnings. Rising diesel prices led mobile-van franchisees to reduce inventories, weighing on Tools Group sales. CEO Nick Pinchuk described demand from technician customers as “very stable.”

Tools Group sales fell to $471.5 million from $506 million a year earlier, with organic sales down 7%. Sales declined in both the United States and international operations.

Companywide net sales slipped 0.6% to $1.1837 billion for the quarter ended Oct. 3. Net earnings attributable to Snap-on were $243 million, or $4.64 per diluted share, compared with $265.4 million, or $5.02, a year earlier. The prior-year results included a $16.2 million after-tax benefit from a legal settlement, equal to $0.31 per diluted share.

Performance varied across the company’s business groups. Snap-on’s Commercial & Industrial Group generated $404.3 million in sales, up from $367.7 million a year earlier; organic sales increased 7.4%.