Illinois Tool Works Boosts FY22 EPS Outlook As Q2 EPS Tops Estimates

RTTNews | vor 729 Tagen
Illinois Tool Works Boosts FY22 EPS Outlook As Q2 EPS Tops Estimates

(RTTNews) - While reporting financial results for the second quarter on Tuesday, Illinois Tool Works, Inc. (ITW) raised earnings guidance for the full-year 2023, while maintaining annual revenue and organic revenue growth outlook.

For fiscal 2023, the company now projects earnings in the range of $9.55 to $9.95 per share on revenue growth of 2 to 4 percent, with organic revenue growth of 3 to 5 percent.

Previously, the company expected earnings in the range of $9.45 to $9.85 per share on revenue growth of 2 to 4 percent, with organic revenue growth of 3 to 5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.66 per share on revenue growth of 2.9 percent to $16.40 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, net income increased to $754 million or $2.48 per share from $738 million or $2.37 per share in the year-ago quarter. Operating revenue for the quarter grew 1.6 percent to $4.07 billion from $4.01 billion in the same quarter last year, with organic revenue growth of 3.0 percent.

The Street was looking for earnings of $2.39 per share on revenue of $4.13 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Illinois Tool Works Q1 Earnings Top Estimates; Boosts FY24 EPS Outlook

Illinois Tool Works Q1 Earnings Top Estimates; Boosts FY24 EPS Outlook

Illinois Tool Works, Inc. (ITW) reported Tuesday that net income for the first quarter increased to $819 million or $2.73 per share from $714 million or $2.33 per share in the year-ago quarter. Excluding items, adjusted net income for the quarter was $2.44 per share.
RTTNews | vor 456 Tagen
Eurozone Economic Confidence Rises To 5-Month High

Eurozone Economic Confidence Rises To 5-Month High

Euro area economic sentiment improved to a five-month high in July largely driven by stronger confidence in industry, services and retail trade, survey data from the European Commission showed Wednesday. The economic sentiment index rose to 95.8 in July from 94.2 in the previous month. This was the highest reading since February and remained above forecast of 94.5.
RTTNews | vor 22 Minuten
FTSE 100 Down 0.3%; HSBC Holdings Slips On Lower Earnings

FTSE 100 Down 0.3%; HSBC Holdings Slips On Lower Earnings

The UK market, which moved modestly higher earlier in the session, is down in negative territory in early afternoon trades on Wednesday with stocks turning in a mixed performance as investors react to a slew of earnings announcements, and await the Federal Reserve's monetary policy announcement.
RTTNews | vor 31 Minuten
CAC 40 Up Nearly 0.5%; Danone Among Top Gainers

CAC 40 Up Nearly 0.5%; Danone Among Top Gainers

French stocks are up in positive territory on Wednesday, extending gains from previous session, as investors react to the latest earnings updates and French GDP data, while continuing to follow the developments on the trade front, and looking ahead to the Federal Reserve's monetary policy announcement.
RTTNews | vor 1Std 26 Minuten
Sensex, Nifty End Modestly Higher In Cautious Trade

Sensex, Nifty End Modestly Higher In Cautious Trade

Indian shares ended modestly higher on Wednesday, adding to the previous session's gains, after the International Monetary Fund (IMF) has upgraded its growth forecasts tor India to 6.4 percent for both 2025-26 and 2026-27, citing strong consumption growth.
RTTNews | vor 2Std 1 Minuten