Illinois Tool Works (ITW) Beats Q4 Earnings and Revenues
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 57 countries. It currently has a $59.3 billion market capitalization.
Despite a long-term growth potential, this industrial tool maker faces risks from global uncertainties, industry rivalry and adverse foreign currency movements. Investors are eagerly waiting for the company’s latest earnings report.
Illinois Tool Works delivered better-than-expected results in the last four quarters, pulling off an average positive earnings surprise of 3.29%. Notably, in the last reported quarter, the company’s earnings of $1.71 per share surpassed the Zacks Consensus Estimate of $1.65 by 3.64%.
Illinois Tool Works Inc. Price and EPS Surprise
Illinois Tool Works Inc. Price and EPS Surprise | Illinois Tool Works Inc. Quote
Currently, Illinois Tool Works carries a Zacks Rank #3 (Hold), but that could definitely change after the release of fourth-quarter 2017 earnings report. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Illinois Tool Works’ earnings came in at $1.70 per share in fourth-quarter of 2017. The bottom line result surpassed the Zacks Consensus Estimate of $1.62 per share.
For 2017, earnings per share were $6.59, below the Zacks Consensus Estimate of $6.70 per share.
Revenue: Revenues surpassed. Illinois Tool Works generated revenues of $3,629 million, above the Zacks Consensus Estimate of $3.55 billion.
For 2017, revenues totaled $14,314 million, above the Zacks Consensus Estimate of approximately $14.2 billion.
Key Stats to Note: Illinois Tool Works’ operating margin in the fourth quarter grew 160 basis points (bps) year over year to 23.4%. Enterprise initiatives added 140 bps to operating margin growth. The company raised its 2018 GAAP earnings guidance by 40 cents per share at mid-point to $7.45-$7.65 per share.
Stock Price: Illinois Tool Works shares were down roughly 0.2% ahead of the report.
Check back our full write up on this ITW earnings report later!
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