Cost Management Insights: SG&A Expenses for Snap-on Incorporated and CNH Industrial N.V.

Navigating SG&A Expenses: A Tale of Two Companies

In the ever-evolving landscape of corporate finance, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining profitability. This analysis delves into the SG&A expenses of Snap-on Incorporated and CNH Industrial N.V. from 2014 to 2023. Over this period, CNH Industrial N.V. experienced a significant 40% decrease in SG&A expenses, dropping from approximately $2.9 billion in 2014 to $1.9 billion in 2023. In contrast, Snap-on Incorporated saw a steady increase of about 19%, with expenses rising from $1.05 billion to $1.25 billion. This divergence highlights differing strategic approaches to cost management. While CNH Industrial N.V. has aggressively cut costs, Snap-on Incorporated has incrementally increased its spending, possibly investing in growth initiatives. Understanding these trends offers valuable insights into each company's operational strategies and financial health.