Higher tool prices are causing U.S. repair technicians to cut back on spending, denting demand for Snap-On's smaller wrenches and ratchets. Sales at the company's "Commercial & Industrial" division, which caters to critical industries such as transportation, military, aerospace and power generation, fell to 9.9 million in the quarter from 3.8 million last year due to weak demand for power tools. Snap-On expects capital expenditures in 2024 to be 0 million to 0 million as it ramps up spending to tap into new customers, markets and geographic areas.