Illinois Tool Works (ITW) Tops Q4 EPS by 2c; Reaffirms

Illinois Tool Works (NYSE: ITW) reported Q4 EPS of $1.23, $0.02 better than the analyst estimate of $1.21. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.24 billion.

GUIDANCE:

Illinois Tool Works sees Q1 2016 EPS of $1.20-$1.30, versus the consensus of $1.28.

Illinois Tool Works sees FY2016 EPS of $5.35-$5.55, versus the consensus of $5.43.

"We are pleased with ITW’s strong performance in the quarter and for the year,” said E. Scott Santi, Chairman and Chief Executive Officer. "In the quarter, the company continued to deliver meaningful improvement in our EPS, operating margin, and return on invested capital metrics, and demand across our business portfolio held steady versus the third quarter. While demand for industrial equipment remains sluggish, we have seen stable underlying demand trends in both Welding and Test & Measurement/Electronics over the past two quarters.

“For full-year 2015, ITW grew EPS 10 percent, expanded operating margin by 150 basis points to a record of 21.4 percent, improved after-tax return on invested capital by 140 basis points to a record of 20.4 percent, and returned more than $2.7 billion to shareholders in the form of dividends and share repurchases. In 2015, the company made meaningful progress on the organic growth component of our Enterprise Strategy as evidenced by 60 percent of the company’s revenues achieving “ready to grow” status and 45 percent growing at 6 percent organically. In the current economic environment and over the long-term, ITW’s unique business model and the execution of our Enterprise Strategy have us well-positioned to continue to deliver differentiated performance,” Santi concluded.

For earnings history and earnings-related data on Illinois Tool Works (ITW) click here.

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