Snap-on reported its Q3/18 financial services revenue of $82 million increased $3 million from 2017 levels. Financial services operating earnings of $59.3 million increased $3.3 million from $56 million last year. For the nine-months ended September 29, 2018 operating earnings from financing services was $174 million, up 6.7% from $163.1 million for the same period one year earlier.
The following highlights were excerpted from the Snap-on news release:
Financial Services revenue for the nine month period ended September 29, 2018 was $247 million, up from $233.5 million for the same period in 2017.
Financial Services finance receivables at September 29, 2018 were $1,577.3 million, up from $1,544.6 million at December 30, 2017.
Snap-on noted originations of $267 million in Q3/18 decreased $4.8 million, or 1.8%, from 2017 levels. For the nine month period ended September 29, 2018 originations of $790.4 million were down 2.1% from $807 million for the same period one-year earlier.
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