Illinois Tool Works (ITW) Tops Q3 EPS by 1c; Raises FY Outlook

Illinois Tool Works (NYSE: ITW) reported Q3 EPS of $1.50, $0.01 better than the analyst estimate of $1.49. Revenue for the quarter came in at $3.5 billion versus the consensus estimate of $3.5 billion.

GUIDANCE:

Illinois Tool Works sees Q4 2016 EPS of $1.31-$1.41, versus the consensus of $1.38.

Illinois Tool Works raises FY2016 EPS to $5.56-$5.66, versus the consensus of $5.62.

"The ITW team delivered another quarter of quality execution and earnings growth marked by all-time record operating income and continued strong margin expansion driven by our Enterprise Strategy initiatives. In addition, continued progress in executing our pivot to growth in combination with our diversified portfolio of seven highly differentiated businesses allowed us to deliver positive organic growth in the third quarter despite a macro environment that remains challenging,” said E. Scott Santi, Chairman and Chief Executive Officer.

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

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