Snap-on Incorporated (SNA) Q1 2022 Earnings Call Transcript

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and welcome to the Snap-on Incorporated First Quarter 2022 Results Conference Call. Today’s conference is being recorded.

At this time, I would like to turn the conference over to Mr. -- excuse me, Ms. Sara Verbsky, Vice President of Investor Relations. Please go ahead, ma'am.

Sara Verbsky

Thank you, Jess, 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 otherwise state 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 our 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 those 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?

Nick Pinchuk

Thanks Sara. Good morning everybody. As usual, I'll start the call by covering the highlights of our first quarter and along the way, I'll give you my perspective on our results, they are encouraging.

In our market, so looking positive and our progress, we believe we're stronger than ever. We'll also speak about what it all means. We believe it means that we're positioned for more, much more. Then Aldo will move into a more detailed review of the financials. These are interesting times, filled with multiple axes of turbulence, but this isn't our first rodeo. We know it's always something. And it's our job to confront and to overcome with the resilience of our markets, the strength of our strategic and tactical advantages and the insight and energy of our consistent and capable team, and we've done just that. Here are the numbers that support that view.