Snap-On Inc at Oppenheimer Industrial Growth Conference (Virtual) Transcript

May 09, 2023 / 04:00PM GMT
Christopher D. Glynn - Oppenheimer & Co. Inc., Research Division - MD & Senior Analyst

Okay. Thank you, operator, Sunny, and welcome, Nick. Thanks for joining us for the fire today, and I hope your one-on-ones are going well. So I thought I would just kick off, I think, a little frame up, if you could provide a little overview of the 3 operating segments, and in particular, how you think about market shares and the relative long-term growth targets?

Nicholas T. Pinchuk - Snap-on Incorporated - Chairman, CEO & President

Okay. Look, let's start with the vehicle repair and everybody wants to talk about the Tools Group. It's 40% of our business. This is the business where we sell through franchise vans, which call on the actual technicians twirl the wrench and they see them every week. This business seems to be doing okay. It is benefiting, I think, from a couple of things. I think one is there's kind of the long-term, long wave activity of the changing of the vehicles, the complexity, the ongoing move to drive by wire, the rise of autonomy and the -- in

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