Advertisement
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
Illinois Tool Works Q2 Earnings Top Estimates; Trims FY24 Outlook
Illinois Tool Works Q1 Earnings Top Estimates; Boosts FY24 EPS Outlook
Llinois Tool Works Q3 Earnings Top Estimates; Narrows FY23 EPS Outlook Range
Fed Leaves Interest Rates Unchanged In Divided Decision
Swiss Market Settles Lower After Choppy Session
European Stocks Close Mixed As Investors React To Earnings, Economic Data
Canadian Market Modestly Lower As Investors Digest Earnings, BoC Rate Decision
