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The review also covers cash flow improvements, stable working capital, and segment-level headwinds and opportunities, including international aviation order timing and Auto repair momentum.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & Report",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/snap-on-incorporated-2016-second-quarter-associate-financial-review-conference-call/156760/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/snap-on-incorporated-2016-second-quarter-associate-financial-review-conference-call/156760.png","ImageObject",300,407,{"name":42,"@type":43},"Aurelia","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-19","2026-08-29",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",5,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What were the key top-line results for Snap-on in Q2 2016?","Question",{"text":63,"@type":64},"Organic revenue grew 2.9% on an excluding-currency and excluding-acquisitions basis, rising sequentially from the prior quarter. 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Inventories were described as stable, working capital remained stable, and return on net operating assets improved year over year and sequentially.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},156760,1787965841,{"code":4,"msg":82,"data":83},"success",[84,88,92,96,100,105,110,114,119,122,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":93,"show_sort_weight":94,"slug":95},"Exam",70,"exam",{"id":55,"doc_module":4,"doc_module_name":25,"category_name":97,"show_sort_weight":98,"slug":99},"Comic",60,"comic",{"id":101,"doc_module":4,"doc_module_name":25,"category_name":102,"show_sort_weight":103,"slug":104},6,"Technology",50,"technology",{"id":106,"doc_module":4,"doc_module_name":25,"category_name":107,"show_sort_weight":108,"slug":109},7,"Healthcare",40,"healthcare",{"id":111,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":112,"slug":113},8,30,"research-report",{"id":115,"doc_module":4,"doc_module_name":25,"category_name":116,"show_sort_weight":117,"slug":118},9,"Religion & Spirituality",20,"religion-spirituality",{"id":117,"doc_module":4,"doc_module_name":25,"category_name":120,"show_sort_weight":117,"slug":121},"World Cup","world-cup",{"id":123,"doc_module":4,"doc_module_name":25,"category_name":124,"show_sort_weight":123,"slug":125},10,"Lifestyle","lifestyle",{"id":127,"doc_module":4,"doc_module_name":25,"category_name":128,"show_sort_weight":55,"slug":129},19,"General","general",{"code":4,"msg":82,"data":131},{"doc_id":79,"user_id":132,"nickname":42,"user_avatar":133,"doc_module":4,"category_id":111,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":139,"language":140,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":12,"update_tm":80,"read_time":144},1099514068365,"https://ap-avatar.wpscdn.com/avatar/10000253d8d9f28188e?_k=1776742907772140068","SNAP-ON INCORPORATED  \nModerator: Aldo J. Pagliari  \nAugust 5, 2016  \n9:00 am CT  \nOperator: Good day and welcome to the Snap-on Incorporated 2016 Second Quarter Associate Financial Review conference call. Today’s conference is being recorded. At this time I would to turn the conference over to Aldo Pagliari, Chief Financial Officer. Please go ahead.  \nAldo Pagliari: This is Snap-on. I am Snap-on. Irwin is okay with that? Okay we’re ready to go. Welcome to the Q2 associate review. We’ll briefly touch on some of the highlights and developments that existed across corporation in the most recently completed three months. Again a very successful quarter, a very solid quarter. Over the next couple of charts we’re going to focus on certain things...one is [expectations...one](expectations...one) is actual reality and accomplishments.  \nSo if you look at the top line, on the yellow highlighted items , you’ll see that on an organic basis , meaning excluding currency, excluding acquisitions , we grew 2.9% . And that’s up sequentially from the previous quarter. So I think it went from about 2.1% to 2.9% . And in a world where people were expecting companies in the S&P 500 , excluding financial services because they have their own unique problems , people were expecting actually lower year over year earningsand fairly anemic growth. So if you look at this on an absolute basis , particularly in the industrial space, 2.9% is a very respectable number and more or less in line with what the outside world thought we would do. It was slightly below , not by much , it was below by about 50 basis points about $9 million worth of sales.  \nAnd in the quarter as you all know there’s been a lot of volatility around the world on interest ratesand foreign exchange rates , particularly in Britain , a lot of discussion around Brexit. We endured about $10 million of lower sales just because of the effect of foreign exchange. And that accounts for, you know, taking a slice away about 120 basis points off of our overall sales number. So sales , on an absolute basis , relative to our peers is pretty solid.  \nAnd if I jump down to the bottom line and look at earnings in the very bottom of the chart you’ll see earnings are actually up 16.3% . Remember in a world where people are expecting the S&P 500 to be lower, now given there’s oil companies in there , particularly experiencing very difficult times and others , but still 16.3% and year to date , on six months , it’s not a fluke, up 15.9% . So again, in an absolute sense , very impressive, successful accomplishments if you look at Snap-onon a standalone basis.  \nIf you look within the operating company it’s up about 10%, a little bit over that. Financial Services grew by I think it was 16.9% . Again, very impressive performances and up 140 basis points if you look at operating come as a percent to sales which is the common benchmark we always talk to. Again, another quarter of many, of improvements in excess of 100 basis points. So you just want to remember that.  \nAnd on the bottom on the cash flow, in a better place than where we were before. Operating company is growing and generating cash. Inventories are up, not as much as they were before , so they’re stable. The negatives around the Financial Services company really reflects a positive development , the expansion of the portfolio which grew, slightly offset by the profit that they generate which is good news. And unfortunately, though Steve Bartels’ team avoids trying to pay any more taxes than we have to, we pay our fair share. And there was a very significant tax payment that occurred in the quarter.  \nLooking at the balance sheet, as I mentioned , working capital is stable. We’re getting a goodwhat’s not on this chart is return on net operating assets. Again, better year over year, better sequentially. We always have to be mindful because these are big numbers , but we are getting a return on the investments and we’re willing to invest in our cust","cbCair3DBmXZUXU2","https://ap.wps.com/l/cbCair3DBmXZUXU2","pdf",320138,29,"English","# Financial performance highlights\n## Top-line growth and expectations\n## Earnings and operating improvements\n## Cash flow and balance sheet\n# Segment updates and outlook","[{\"question\":\"What were the key top-line results for Snap-on in Q2 2016?\",\"answer\":\"Organic revenue grew 2.9% on an excluding-currency and excluding-acquisitions basis, rising sequentially from the prior quarter. The quarter also reflected FX headwinds that reduced sales by about $10 million.\"},{\"question\":\"How did earnings perform compared with expectations?\",\"answer\":\"Earnings increased 16.3% year over year, and 15.9% for the first six months, described as an impressive and sustained performance despite broader market expectations for weaker results.\"},{\"question\":\"What did the call say about cash flow and the balance sheet?\",\"answer\":\"Cash flow was in a better position, with the operating company generating cash. Inventories were described as stable, working capital remained stable, and return on net operating assets improved year over year and sequentially.\"}]","Snap-on Incorporated 2016 Second Quarter Associate Financial Review Conference Call | PDF",73]