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

RTTNews | 800 days ago
Stocktwits
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

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 | 527 days ago
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The Philippines' central bank unexpectedly reduced its key interest rates by 25 basis points on Thursday, for the fourth time this year and signaled further reduction to support economic growth. The Monetary Board of the Bangko Sentral ng Pilipinas, headed by Governor Eli Remolona, decided to reduce the policy rate by 25 basis points to 4.75 percent. The bank was expected to hold the rate at 5.0
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PepsiCo Q3 Results Top Market, Confirms FY25 View; Names Walmart's Steve Schmitt CFO

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FTSE 100 Down Nearly 0.5%; Bank Stocks Tumble

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The UK stock market is down in negative territory on Thursday, weighed down by losses in banking and housing sectors. Expectations of more interest rate cuts by the Federal Reserve and a few other major central banks appear to be limiting the market's downside.
RTTNews | 4h 41min ago
Sensex Rises 398 Points; Nifty Ends At 25,181

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Indian shares eked out modest gains on Thursday as geopolitical tensions eased somewhat, and investors awaited TCS' earnings results due after the market close.
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