Snap-on Inc. SNA posted impressive second-quarter 2021 results, wherein both top and bottom lines advanced year over year. Strength in Snap-on Tools Group aided the quarterly results. Also, the company remains on track with its Rapid Continuous Improvement (RCI) process and other cost-reduction initiatives.Shares of this Zacks Rank #3 (Hold) company have gained 32.4% year to date, outperforming the industry's 24.9% growth.Q2 in DetailSnap-on’s adjusted earnings of $3.76 per share in second-quarter 2021 surpassed the Zacks Consensus Estimate of $3.18. Moreover, the figure was up 96.9% and 16.8% from adjusted earnings of $1.91 and $3.22 per share reported in second-quarter 2020 and 2019, respectively.Net sales surged 49.3% to $1,081.4 million and beat the Zacks Consensus Estimate of $964 million. The uptick can be attributed to organic sales growth of 42.7%, a $20.6 million positive impact of foreign currency translations and $19.6 million in contributions from acquisitions. The top line also grew 13.7% from second-quarter 2019’s reported figure of $951.3 million, driven by organic sales growth of 9.3%, gains from acquisitions to the tune of $23 million and $17.2 million of positive impact from foreign currency.Adjusted gross profit was $543.1 million, up 59.2% year over year, while gross margin advanced 310 basis points (bps) to 50.2% in the reported quarter.Further, the company’s adjusted operating earnings before financial services totaled $217.1 million, up 128.3% year over year. Additionally, the metric, as a percentage of sales, expanded 700 bps to 20.1% in the quarter under review.Image Source: Zacks Investment ResearchSegmental DetailsSales in Commercial & Industrial Group increased 33.8% from the prior-year quarter to $350.5 million, driven by organic sales growth of 26.3%, a positive impact of $9.6 million from foreign currency and $7.7 million in gains from acquisitions. The top line also improved 4.6% from $335 million in second-quarter 2019 on the back of organic sales growth of 0.4%, $7.7 million contributions from acquisitions and $6.4 million of favorable foreign currency.The Tools Group segment’s sales rose 49.7% year over year to $484.1 million, driven by organic sales growth of 46.7% and a $6.7 million positive impact of foreign currency. Solid sales performance for both U.S. and international operations aided results. Sales in the segment grew 19.3% from $405.8 million in second-quarter 2019, owing to 17.1% organic sales growth and $7.6 million from favorable currency movement.Sales in Repair Systems & Information Group skyrocketed 62.7% year over year to $398.6 million. Moreover, organic sales in the segment surged 54.1% from the year-ago quarter, with a $6 million positive impact from foreign currency and $11.9 million in gains from acquisitions. Higher sales in OEM dealerships, strength in diagnostics and repair information products to independent repair shop owners and a rise in sales of under-car equipment contributed to segment growth. The top line witnessed growth of 14.2% from second-quarter 2019, driven by organic sales growth of 8.4%, a positive currency impact of $4.7 million and $15.3 million of gains from acquisitions.Also, the Financial Services business reported revenues of $86.9 million, up from $84.6 million in the year-ago quarter.FinancialsDuring the quarter, Snap-on’s cash and cash equivalents totaled $965.9 million, with long-term debt of $1,182.5 million and $4,003.4 million in shareholder’s equity.Looking AheadWith the easing of COVID-19 restrictions and reopening of economies, Snap-on remains focused on leveraging capabilities in the automotive repair space and expanding the customer base, particularly in automotive repair and critical industries. As a result, capital expenditures for 2021 are projected to be $90-$100 million, out of which $37.6 million has been incurred in the first six months.3 Stocks to ConsiderGildan Activewear GIL has a long-term earnings growth rate of 28.5%. The company flaunts a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Discovery DISCA currently has an impressive long-term earnings growth rate of 11.2% and a Zacks Rank #2 (Buy).Whirlpool Corp. WHR has a Zacks Rank #2 and a long-term earnings growth rate of 7.7%. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. 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