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Illinois Tool Works: 4Q Earnings Snapshot

GLENVIEW, Ill. (AP) _ Illinois Tool Works Inc. (ITW) on Friday reported fourth-quarter net income of $607 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Glenview, Illinois-based company said it had profit of $1.83.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.

The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.58 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $3.62 billion.

For the year, the company reported profit of $2.56 billion, or $7.60 per share. Revenue was reported as $14.77 billion.

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

Illinois Tool Works shares have climbed slightly more than 8 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 8 percent. The stock has dropped 21 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