Snap-on Incorporated (SNA) Q1 2023 Earnings Call Transcript

Snap-on Incorporated (NYSE:SNA) Q1 2023 Results Conference Call April 20, 2023 10:00 AM ET

Company Participants

Sara Verbsky - VP, IR

Nick Pinchuk - CEO

Aldo Pagliari - CFO

Conference Call Participants

Christopher Glynn - Oppenheimer

Bret Jordan - Jefferies

Gary Prestopino - Barrington Research

Elizabeth Suzuki - Bank of America

Scott Stember - ROTH MKM

David MacGregor - Longbow Research

Luke Junk - Baird

Operator

Hello, and welcome to the Snap-on Incorporated 2023 First Quarter Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, today’s event is being recorded.

I would now like to turn the conference over to your host today, Sara Verbsky, Vice President, Investor Relations. Ma’am, please go ahead.

Sara Verbsky

Thank you, Keith, and good morning, everyone. Thank you for joining us today to review Snap-on’s first quarter results, which are detailed in our press release issued earlier this morning.

We have on the call today, Nick Pinchuk, Snap-on’s Chief Executive Officer; and Aldo Pagliari, Snap-on’s Chief Financial Officer. Nick will kick off our call this morning with his perspective on our performance. Aldo will then provide a more detailed review of our financial results. After Nick provides some closing thoughts, we’ll take your questions.

As usual, we have provided slides to supplement our discussion. These slides can be accessed under the Downloads tab in the webcast viewer as well as on our website, snapon.com, under the Investors section. These slides will be archived on our website along with a transcript of today’s call. Any statements made during this call relative to management’s expectations, estimates or beliefs or that otherwise discuss management’s or the Company’s outlook, plans or projections are forward-looking statements, and actual results may differ materially from those made in such statements. Additional information and the factors that could cause our results to differ materially from those in the forward-looking statements are contained in our SEC filings.

Finally, this presentation includes non-GAAP measures of financial performance, which are not meant to be considered in isolation or as a substitute for their GAAP counterparts. Additional information regarding these measures is included in our earnings release issued today, which can be found on our website.

With that said, I’d now like to turn the call over to Nick Pinchuk. Nick?