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
Illinois Tool Works Q1 Earnings Top Estimates; Boosts FY24 EPS Outlook
Llinois Tool Works Q3 Earnings Top Estimates; Narrows FY23 EPS Outlook Range
Illinois Tool Works Boosts FY22 EPS Outlook As Q2 EPS Tops Estimates
South Korea Stock Market May Be Stuck In Neutral
Hong Kong Trade Data Due On Monday
TSX Ends Modestly Lower, Drops Nearly 1.5% In Week
Dollar Rises Against Major Counterparts
