Snap-On Inc. on Thursday reported first-quarter earnings of $177.9 million.
The Kenosha, Wisconsin-based company said it had profit of $3.16 per share. Earnings, adjusted for non-recurring gains, were $3.01 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.91 per share.
The tool and diagnostic equipment maker posted revenue of $921.7 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $930.2 million.
Snap-On shares have climbed roughly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 16 percent. The stock has climbed slightly more than 9 percent in the last 12 months.
