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Illinois Tool Works: 1Q Earnings Snapshot

GLENVIEW, Ill. (AP) _ Illinois Tool Works Inc. (ITW) on Thursday reported first-quarter earnings of $597 million.

On a per-share basis, the Glenview, Illinois-based company said it had profit of $1.81.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.80 per share.

The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.55 billion in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $3.64 billion.

Illinois Tool Works expects full-year earnings to be $7.90 to $8.20 per share.

Illinois Tool Works shares have risen 24 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 17 percent. The stock has climbed almost 5 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITW at https://www.zacks.com/ap/ITW