Illinois Tool Works (NYSE: ITW) reported Q1 EPS of $1.21, $0.03 better than the analyst estimate of $1.18. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.48 billion.

Illinois Tool Works sees Q2 2015 EPS of $1.22-$1.30, versus the consensus of $1.36.

Illinois Tool Works sees FY2015 EPS of $5.00-$5.20, versus the consensus of $5.21.

"Despite currency translation headwinds and a challenging capital spending environment, ITW delivered record first quarter operating margin and 20 percent EPS growth," said E. Scott Santi, president and chief executive officer. "This performance reflects the continued progress that our business teams around the world are making in executing our strategy and leveraging ITW's highly differentiated business model to its full potential. ITW is well positioned for another year of strong progress in 2015 and we remain solidly on track to deliver on our 2017 performance goals."

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