GLENVIEW, Ill. (AP) _ Illinois Tool Works Inc. (ITW) on Wednesday reported third-quarter earnings of $638 million.
On a per-share basis, the Glenview, Illinois-based company said it had profit of $1.90.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.61 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $3.72 billion.
Illinois Tool Works expects full-year earnings to be $7.55 to $7.65 per share.
Illinois Tool Works shares have decreased 24 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2.5 percent. The stock has decreased 19 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