Breaking Down SG&A Expenses: United Airlines Holdings, Inc. vs Snap-on Incorporated

A Tale of Two Giants: SG&A Expenses in the Airline and Tool Industries

In the ever-evolving landscape of corporate finance, understanding Selling, General, and Administrative (SG&A) expenses is crucial for evaluating a company's operational efficiency. This analysis juxtaposes United Airlines Holdings, Inc. and Snap-on Incorporated, two industry titans with distinct business models, over a decade from 2014 to 2023.

United Airlines, a leader in the aviation sector, saw its SG&A expenses fluctuate significantly, with a notable dip in 2020, reflecting the pandemic's impact. By 2023, their expenses surged by approximately 330% from the 2020 low, highlighting a robust recovery.

Conversely, Snap-on, a stalwart in the tool manufacturing industry, maintained a more stable SG&A trajectory. Their expenses grew steadily, peaking in 2023 with a 25% increase from 2014. This stability underscores Snap-on's consistent operational strategy.

This comparison offers a window into how different sectors navigate financial challenges and opportunities.