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Illinois Tool Works (ITW) Tops Q1 Earnings and Revenues
Illinois Tool Works Inc. (ITW - Free Report) is a worldwide manufacturer of highly engineered products and specialty systems. The company’s diversified range of industrial products and equipment are sold in 56 countries. It currently has a $51.4 billion market capitalization.
Despite a long-term growth potential, this industrial tool maker faces risks from global uncertainties, industry rivalry and adverse foreign currency movements. Investors are eagerly waiting for the company’s latest earnings report.
Illinois Tool Works delivered better-than-expected results in the last four quarters, pulling off an average positive earnings surprise of 4.16%.
Illinois Tool Works Inc. Price and EPS Surprise
Illinois Tool Works Inc. Price and EPS Surprise | Illinois Tool Works Inc. Quote
Currently, Illinois Tool Works carries a Zacks Rank #3 (Hold), but that could definitely change after the release of first-quarter 2018 earnings report. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Illinois Tool Works’ earnings came in at $1.90 per share in first-quarter of 2018. The bottom line result surpassed the Zacks Consensus Estimate of $1.85 per share.
Revenue: Revenues surpassed. Illinois Tool Works generated revenues of $3,744 million, above the Zacks Consensus Estimate of $3.67 billion.
Key Stats to Note: Illinois Tool Works’ operating margin in the first quarter grew 90 basis points (bps) year over year to 24.1%. Enterprise initiatives added 110 bps to operating margin growth, offsetting 50 bps of adverse impacts of price/costs. The company raised its 2018 GAAP earnings guidance from $7.45-$7.65 to $7.60-$7.80 per share.
Stock Price: Illinois Tool Works shares were up roughly 1.3% ahead of the report.
Check back our full write up on this ITW earnings report later!
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