Illinois Tool Works (ITW) Beat Q1 Earnings, Miss Revenues - Tale of the Tape
Illinois Tool Works Inc. (ITW) is a worldwide manufacturer of highly engineered products and specialty systems. The company’s diversified range of industrial products and equipment are sold in 56 countries. It currently has a $36.8 billion market capitalization.
However, this industrial tool maker faces risks from geopolitical issues and a competitive business environment. Also, uncertain economic conditions or depressed industrial activities as well as adverse foreign currency movements can severely impact its financials. Investors are eagerly waiting for the company’s latest earnings report.
Illinois Tool Works’ earnings estimate for 2015 has gone down by 0.4% in the last few days. However, the company performed well in the trailing four quarters, with a positive average earnings surprise of +3.10%.
Currently, ITW has a Zacks Rank #3 (Hold), but that could definitely change after the release of its upcoming earnings report. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Illinois Tool Works’ earnings from continuing operations came in at $1.21 per share in first-quarter of 2015. The bottom line result surpassed the Zacks Consensus Estimate of $1.17 per share.
Revenue: Revenues missed. Illinois Tool Works generated revenues of $3,342 million, below the Zacks Consensus Estimate of $3,489 million.
Key Stats to Note: Illinois Tool Works’ operating margin in the first quarter grew 220 basis points (bps) year over year to 20.9%. Enterprise initiatives added 100 bps to operating margin growth. The company lowered its 2015 earnings guidance accounting for adverse foreign currency impact.
Stock Price: Illinois Tool Works shares were up 1.2% ahead of the report while no movement has been recorded in the pre-market trading session.
Check back our full write up on this ITW earnings report later!
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ILL TOOL WORKS (ITW): Free Stock Analysis Report
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