SNA — what changed in the latest 10-Q
A section-by-section comparison of SNA's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-22 vs the prior 10-Q · 2026-07-23
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +58 | −48 | ~39 | 61 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Other information | Text added/removed | 0 | −3 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings, Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-22
(Amounts in millions)October 3, 2026September 27, 2025Change
Operating expenses of $355.5 million in the third quarter of 2026 compared to $327.4 million in 2025, which included a $22.0 million benefit from the settlement of a legal matter (the “legal settlement”). Operating expenses as a percentage of net sales rose 250 bps from last year primarily due to a …
Financial services revenue of $98.6 million in the third quarter of 2026 compared to $101.1 million last year. Financial services operating earnings of $68.3 million compared to $68.9 million in 2025.
Operating earnings of $316.4 million in the third quarter of 2026 compared to $347.4 million in 2025, which included a $22.0 million benefit from the legal settlement. As a percentage of revenues (net sales plus financial services revenue), operating earnings in the quarter were 24.7% compared to 26…
Interest expense in the third quarter of 2026 of $12.5 million increased $0.1 million from last year. See Note 8, Short-term and Long-term Debt, to the Condensed Consolidated Financial Statements for additional information on debt and credit facilities.
Text removed vs the prior filing · source: 10-Q · 2026-07-23
Operating expenses of $366.3 million in the second quarter of 2026 compared to $336.4 million in 2025. Operating expenses as a percentage of net sales rose 110 bps from last year primarily due to increased personnel and other costs.
Financial services revenue of $99.7 million in the second quarter of 2026 compared to $101.7 million last year. Financial services operating earnings of $67.5 million compared to $68.2 million in 2025.
Operating earnings of $336.4 million in the second quarter of 2026 compared to $327.3 million in 2025. As a percentage of revenues (net sales plus financial services revenue), operating earnings in the quarter were 25.2% compared to 25.5% last year.
Interest expense in the second quarter of 2026 of $12.3 million was unchanged from last year. See Note 8 to the Condensed Consolidated Financial Statements for additional information on debt and credit facilities.
Other income (expense) – net primarily includes interest income, non-service components of net periodic benefit costs, and net gains and losses associated with hedging and currency exchange rate transactions. See Note 16 to the Condensed Consolidated Financial Statements for additional information o…
Other information
Text removed vs the prior filing · source: 10-Q · 2026-07-23
Name and TitleType of PlanAdoption DateDuration or End DateAggregate Number of Securities to be SoldDescription of Trading Arrangement
Rule 10b5-1 trading arrangementMay 21, 2026May 22, 20283,050Exercises of vested stock options and sales of shares
Other than as disclosed above, no other officer or director adopted, modified or terminated a contract, instruction or written plan for the purchase or sale of securities of the company intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or a non-Rule 10b5-1 trading arrangement.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice