Snap-On Inc at ROTH Conference Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : <_ALACRA_META_ABSTRACT>Snap-On is the largest producer of tools for the mechanics and dealerships in the automotive industry. You guys have, what I call, a secret sauce behind the Snap-On valuation creation model. Can you maybe just talk about how it all works? How you guys are able to continually stay on front and remain the top player?

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Off to a good start.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Well said. Thank you. So last year or so, the tools group has seen -- I guess, some of the end users have been pivoting to lower priced product and you guys have been pivoting yourself to supply them that, and it's had an impact on the business. How far along are we in the pivot process because the declines in organic sales have definitely been abating?

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Got it. So throughout this whole process, you've been saying that the economics and the sentiment -- or more of the, I guess, economics of the repair technician and the shops remains very strong. Has that changed at all?

Question: Scott Stember - Roth Capital Partners LLC - Analyst : So I know you guys don't give guidance. And every quarter, we've seen the same store sales number --

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Beyond that --

Question: Scott Stember - Roth Capital Partners LLC - Analyst : As far as -- are we getting closer to being flat to inflecting up, do you think, in the next six months?

Question: Scott Stember - Roth Capital Partners LLC - Analyst : So the traditional mid-single digit growth narrative has not changed longer term at all.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Got it. And let's talk about the Snap-On loan portfolio. The delinquency rates and write-downs have creeped up just a little bit, but it seems like it's more in line with pre-pandemic levels. Just talk about the favorable risk reward scenario of running this business.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Let's pivot over to RS&I.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : You guys have been taking advantage of increased complexity of vehicle repair. Maybe just talk a bit how you've been able to do that.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Over to commercial and industrial, you've been gaining some nice momentum as of late, despite weakness in the general economy and in Europe and other countries, have you been able to do that? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : And before we turn up to questions, talk about tariffs. You guys are relatively insulated compared to many other industries.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Got it. We'll turn it over to the audience if you have any questions.

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Any other questions?

Question: Scott Stember - Roth Capital Partners LLC - Analyst : Time for one last question. Unidentified Participant (inaudible)

Question: Scott Stember - Roth Capital Partners LLC - Analyst : All right. Thank you, everybody. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.