Snap-On, Inc. (SNA) Q4 2022 Earnings Call Transcript

Snap-On, Inc. (NYSE:SNA) Q4 2022 Earnings Conference Call February 2, 2023 10:00 AM ET

Company Participants

Sara Verbsky - VP, IR

Nicholas Pinchuk - Chairman, CEO & President

Aldo Pagliari - SVP, Finance & CFO

Conference Call Participants

Luke Junk - Robert W. Baird & Co.

Elizabeth Suzuki - Bank of America Merrill Lynch

David MacGregor - Longbow Research

Ivan Feinseth - Tigress Financial Partners

Operator

Good day, and welcome to the Snap-on Incorporated 2022 Fourth Quarter and Full Year Results Conference Call. [Operator Instructions].

I would now like to turn the conference over to Sara Verbsky, Vice President of Investor Relations. Please go ahead.

Sara Verbsky

Thank you, Cole, and good morning, everyone. Thank you for joining us today to review Snap-on's fourth 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 the 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?

Nicholas Pinchuk

Thanks, Sara. Good morning, everybody. Wow, it's been some year and quite a quarter. China knee jerking from Zero COVID and strict lockdowns to living with COVID in unprecedented virus explosion, diminished but still continuing spikes in the supply chain, the ongoing Ukraine war, the emergence of -- the reemergence of Brexit and now the rising shadow of the recession, echoing in almost daily public pronouncements. And thru it all, Snap-on delivered another in a long line of encouraging performances.