Snap-on Incorporated SNA has reported earnings of $3.22 per share in second-quarter 2019, which surpassed the Zacks Consensus Estimate of $3.21 and improved 3.5% from the year-ago quarter’s adjusted earnings of $3.11.Earnings benefited from Snap-on’s robust business model and focus on value-creation processes. An increase in operating earnings and improved sales in the U.S. operations as well as overall organic sales growth also provided a boost to the company’s bottom-line performance.Snap-On Incorporated Price, Consensus and EPS Surprise Snap-On Incorporated price-consensus-eps-surprise-chart | Snap-On Incorporated QuoteQ2 in DetailNet sales declined 0.3% to $951.3 million and lagged the Zacks Consensus Estimate of $959.5 million. The downside can be attributed to $19.5 million of adverse impacts of foreign currency translations. However, the decline was offset by 1.6% organic sales growth and $1.1-million contributions from acquisitions.Segment wise, sales at Commercial & Industrial Group dipped 0.8% to $335 million on $10.1 million of adverse impacts of foreign currency. However, organic sales were up 1.9%, which reflected robust sales at this division’s specialty tools and European hand tools businesses along with higher sales to customers in critical industries.The Tools Group segment’s sales rose 1.5% year over year to $405.8 million, driven by a 0.2% decline in organic sales as well as $5.1-million impact of currency headwinds. Organic sales were hurt by lower sales in the segment’s international business, partly negated by increases in the U.S. franchise operations.Sales at Repair Systems & Information Group rose 1.7% year over year to $348.9 million due to currency headwinds. Moreover, organic sales at the segment improved 3.5%, owing to increased sales to OEM dealerships. Nevertheless, unfavorable currency rates hurt top-line growth to the tune of $5.9 million.Meanwhile, the Financial Services business reported revenues of $84.1 million, up from $82 million realized in the year-ago quarter.Further, the company’s adjusted operating earnings before financial services totaled $189.9 million, down 1.7% from $193.1 million in the prior-year quarter.Consolidated operating earnings of $250.5 million were almost in line with prior-year quarter’s $250.9 million. Additionally, operating earnings margin was also flat at 24.2%.FinancialsAt the end of second-quarter 2019, Snap-on’s cash and cash equivalents totaled $164 million compared with $140.9 million as of Dec 29, 2018. The company’s long-term debt was $947.9 million compared with $946 million recorded at the end of 2018.Looking AheadDespite ongoing challenges in the second quarter, management remains optimistic about the overall macro-economic condition of the vehicle repair and critical industries markets it serves. It also believes that these markets will continue to provide opportunities to simplify the work of serious professionals.In 2019, the company plans to remain on track with its objectives for coherent growth and leveraging capabilities as demonstrated in the automotive repair arena. It also expects to develop and expand its professional customer base in the automotive repair business as well as in adjacent industries, additional geographies and other areas like extending in critical industries. Backed by these initiatives, the company expects capital expenditure for 2019 to be $90-$100 million, with about $48.2 million incurred in the first half.Further, its effective income tax rate for 2019 is projected to be at par with tax rate of 24% in 2018.Price PerformanceYear to date, shares of this Zacks Rank #4 (Sell) company have gained 5.8%. However, it lagged the industry's 15.5% growth. 3 Better-Ranked Consumer Discretionary StocksSpectrum Brands Holdings Inc. SPB has a long-term earnings growth rate of 2.2%. The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Prestige Consumer Healthcare Inc. PBH is also a Zacks Rank #2 stock, which has an expected long-term earnings growth rate of 6.3%.Skechers U.S.A., Inc. SKX has an expected long-term earnings growth rate of 7%. The company currently carries a Zacks Rank #2.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Prestige Consumer Healthcare Inc. (PBH): Free Stock Analysis Report Spectrum Brands Holdings Inc. (SPB): Free Stock Analysis Report Skechers U.S.A., Inc. (SKX): Free Stock Analysis Report Snap-On Incorporated (SNA): Free Stock Analysis Report To read this article on Zacks.com click here. 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