ITW Reports Second Quarter 2019 Results

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Go back to ITW Reports Second Quarter 2019 Results

Illinois Tool Works (ITW) Tops Q2 EPS by 3c, Revenues Miss; Offers FY19 EPS Guidance Below Consensus

July 26, 2019 8:02 AM EDT

Illinois Tool Works (NYSE: ITW) reported Q2 EPS of $2.00, $0.03 better than the analyst estimate of $1.97. Revenue for the quarter came in at $3.6 billion versus the consensus estimate of $3.73 billion.

In the second quarter, we experienced a deceleration in demand across our portfolio relative to the demand levels we were seeing exiting the first quarter. On a sequential basis, second quarter organic revenue declined approximately two percentage points versus first quarter run rates, said E. Scott Santi, Chairman and Chief Executive Officer.

In this more challenging demand environment, the ITW team executed... More