Illinois Tool Works: Q2 Earnings Snapshot
GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Tuesday reported second-quarter net income of $754 million.
On a per-share basis, the Glenview, Illinois-based company said it had profit of $2.48. Earnings, adjusted for pretax gains, were $2.41 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.39 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $4.07 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $4.13 billion.
Illinois Tool Works expects full-year earnings to be $9.55 to $9.95 per share.
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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
