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

RTTNews | 453 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 | 180 days ago
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the mixed cues from Wall Street on Friday, amid lingering concerns the US Fed will lower interest rates slower than previously anticipated after revised data showed US consumer sentiment unexpectedly improved in the month of October. Asian markets closed mixed on Friday.
RTTNews | 4h 6min ago
Sensex, Nifty Seen Opening Higher As Oil Prices Slump

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Indian shares are seen opening modesty higher on Monday as investors react to positive cues from other Asian markets, a barrage of earnings results from domestic companies and a slump in oil prices.
RTTNews | 4h 47min ago
Japanese Market Sharply Higher

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The Japanese stock market is trading sharply higher on Monday, reversing the losses in the previous session. The benchmark S&P/ASX 200 is moving well above the 39,500 level, following the mixed cues from Wall Street on Friday, with gains across all sectors led by index heavyweights, exporters and technology stocks.
RTTNews | 5h 1min ago
Thai Stock Market May See Renewed Selling Pressure

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The Thai stock market on Friday snapped the four-day losing streak in which it had dropped almost 35 points or 2.5 percent. The Stock Exchange of Thailand now sits just above the 1,460-point plateau although it may hand back those gains on Monday.
RTTNews | 5h 25min ago
Australian Market Modestly Higher

Australian Market Modestly Higher

The Australian stock market is currently trading modestly higher on Monday, extending the slight gains in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving up to stay above the 8,200.00 level, with gains in iron ore miners and technology stocks partially offset by weakness in gold miners and energy stocks.
RTTNews | 5h 49min ago
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