Illinois Tool Works (NYSE: ITW) reported Q2 EPS of $1.30, $0.02 better than the analyst estimate of $1.28. Revenue for the quarter came in at $3.43 billion versus the consensus estimate of $3.45 billion.

Illinois Tool Works sees FY2015 EPS of $5.07-$5.23, versus the consensus of $5.13.

"ITW continues to execute very well in the face of an external operating environment that remains challenging on a number of levels. In the second quarter, the company delivered solid EPS growth with record operating margin of 21.3 percent and after-tax return on invested capital above 20 percent," said E. Scott Santi, chairman and chief executive officer. "Consistent with our strategy and despite the challenging near-term macro environment, we continue to focus on and invest in executing the steps necessary to position the company to deliver solid above-market organic growth. As we transition into the back-half of our current five-year Enterprise Strategy, we remain firmly on track to achieve our 2017 and beyond organic growth target of 200 basis points or more above global GDP.”

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