Illinois Tool Works (ITW) Slashes Q4 Outlook
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Illinois Tool Works Inc. (NYSE: ITW) lowers its Q4 EPS guidance from $0.74-$0.82 to $0.44-$0.52, versus the consensus of $0.75.
For FY08, Illinois Tool Works sees $2.94-$3.02, versus the Street estimate of $3.25.
The company said the latest forecast reflects significant further weakening in North American and international end markets, the negative impact from currency translation and higher than originally anticipated restructuring costs in the quarter.
Illinois Tool Works, Inc. manufactures a range of industrial products and equipment.
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