Illinois Tool Works Q2 Earnings Top Estimates; Trims FY24 Outlook

RTTNews | 370 days ago
Stocktwits
Illinois Tool Works Q2 Earnings Top Estimates; Trims FY24 Outlook

(RTTNews) - Illinois Tool Works, Inc. (ITW) reported Tuesday that net income for the first quarter increased to $759 million or $2.54 per share from $754 million or $2.48 per share in the year-ago quarter.

Operating revenue for the quarter edged down 1.2 percent to $4.03 billion from $4.07 billion in the same quarter last year, with flat organic revenues.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.48 per share on revenues of $4.08 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2024, the company now projects earnings in a range of $10.30 to $10.40 per share on flat revenue growth and organic revenue growth.

Previously, the company expected earnings in the range of $10.30 to $10.70 per share on revenue growth of 2 to 4 percent, with organic revenue growth of 1 to 3 percent.

The Street was looking for earnings of $10.35 per share on revenue growth of 1.3 percent to $16.31 billion for the year.

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

Tags: ITW
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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 | 461 days ago
Japanese Market Modestly Higher

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RTTNews | 20 minutes ago
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The Indonesia stock market headed south again on Monday, one session after snapping the two-day slide in which it had dropped almost 140 points or 1.9 percent. The Jakarta Composite Index now sits just shy of the 7,465-point plateau although it's likely to see renewed support on Tuesday.
RTTNews | 27 minutes ago
Australian Market Significantly Higher

Australian Market Significantly Higher

The Australian stock market is trading significantly higher on Tuesday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,700 level, with gains across all sectors led by mining and technology stocks.
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Hang Seng May Crack Resistance At 25,000 On Tuesday

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The Hong Kong stock market on Monday wrote a finish to the four-day losing streak in which it had stumbled more than 1,050 points or 4 percent. The Hang Seng Index now rests just above the 24,730-point plateau and it's expected to open higher again on Tuesday.
RTTNews | 42 minutes ago
China Shares Tipped To Open In The Green On Tuesday

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The China stock market on Monday ended the two-day losing streak in which it had dropped more than 55 points or 1.7 percent. The Shanghai Composite Index now sits just shy of the 3,580-point plateau and it's expected to see additional support on Tuesday.
RTTNews | 57 minutes ago
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