Snap-on Financial Portfolio Size Increases to $1.4 Billion
FEB 2, 2017 - 7:53 am
Snap-on reported full year 2016 sales and net earnings of $3,430.4 million and $546.4 million, respectively, up from $3,352 million and $478.7 million a year earlier.
The follow highlights on Snap-on Financial Services were excerpted from the news release:
Financial Services operating earnings of $51.6 million in the quarter increased $6.6 million, or 14.7%, from 2015 levels. Financial services revenue of $74.2 million in the quarter increased 17.6% from 2015 levels.
Financial Services operating earnings for 2016 as a whole reached $198.7 million, up 16.7% compared to 2015. Financial services revenue for the year was $281.4, up 17.1% compared to 2015.
Financial Services related assets at year-end 2016 were $1,407 million, up 15.3% from $1,220 million at year-end 2015.
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