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Here's What Key Metrics Tell Us About Illinois Tool Works (ITW) Q1 Earnings
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For the quarter ended March 2023, Illinois Tool Works (ITW - Free Report) reported revenue of $4.02 billion, up 2% over the same period last year. EPS came in at $2.33, compared to $2.11 in the year-ago quarter.
The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $3.96 billion. With the consensus EPS estimate being $2.18, the EPS surprise was +6.88%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Illinois Tool Works performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating Revenue - Organic growth - Total ITW: 5.2% compared to the 3.63% average estimate based on four analysts.
Operating Revenue - Automotive OEM - Organic growth: 7.9% versus 4.09% estimated by three analysts on average.
Operating Revenue - Specialty Products - Organic growth: -5% compared to the -1.99% average estimate based on three analysts.
Operating Revenue - Food Equipment - Organic growth: 16% compared to the 9.96% average estimate based on three analysts.
Operating Revenues- Test & Measurement and Electronics: $703 million versus the five-analyst average estimate of $698.10 million. The reported number represents a year-over-year change of +2.6%.
Operating Revenues- Construction Products: $526 million versus the five-analyst average estimate of $518.29 million. The reported number represents a year-over-year change of -4.5%.
Operating Revenues- Food Equipment: $635 million compared to the $601.96 million average estimate based on five analysts. The reported number represents a change of +12.2% year over year.
Operating Revenues- Specialty Products: $423 million compared to the $444 million average estimate based on five analysts. The reported number represents a change of -6.4% year over year.
Operating Revenues- Intersegment revenues: -$4 million compared to the -$5.86 million average estimate based on five analysts. The reported number represents a change of -33.3% year over year.
Operating Revenues- Automotive OEM: $796 million compared to the $772.80 million average estimate based on five analysts. The reported number represents a change of +4.7% year over year.
Operating Revenues- Welding: $493 million versus the five-analyst average estimate of $478.24 million. The reported number represents a year-over-year change of +9.6%.
Operating Revenues- Polymers & Fluids: $447 million versus the five-analyst average estimate of $465.65 million. The reported number represents a year-over-year change of -7.1%.
Shares of Illinois Tool Works have returned +0.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Illinois Tool Works (ITW) Q1 Earnings
For the quarter ended March 2023, Illinois Tool Works (ITW - Free Report) reported revenue of $4.02 billion, up 2% over the same period last year. EPS came in at $2.33, compared to $2.11 in the year-ago quarter.
The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $3.96 billion. With the consensus EPS estimate being $2.18, the EPS surprise was +6.88%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Illinois Tool Works performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating Revenue - Organic growth - Total ITW: 5.2% compared to the 3.63% average estimate based on four analysts.
- Operating Revenue - Automotive OEM - Organic growth: 7.9% versus 4.09% estimated by three analysts on average.
- Operating Revenue - Specialty Products - Organic growth: -5% compared to the -1.99% average estimate based on three analysts.
- Operating Revenue - Food Equipment - Organic growth: 16% compared to the 9.96% average estimate based on three analysts.
- Operating Revenues- Test & Measurement and Electronics: $703 million versus the five-analyst average estimate of $698.10 million. The reported number represents a year-over-year change of +2.6%.
- Operating Revenues- Construction Products: $526 million versus the five-analyst average estimate of $518.29 million. The reported number represents a year-over-year change of -4.5%.
- Operating Revenues- Food Equipment: $635 million compared to the $601.96 million average estimate based on five analysts. The reported number represents a change of +12.2% year over year.
- Operating Revenues- Specialty Products: $423 million compared to the $444 million average estimate based on five analysts. The reported number represents a change of -6.4% year over year.
- Operating Revenues- Intersegment revenues: -$4 million compared to the -$5.86 million average estimate based on five analysts. The reported number represents a change of -33.3% year over year.
- Operating Revenues- Automotive OEM: $796 million compared to the $772.80 million average estimate based on five analysts. The reported number represents a change of +4.7% year over year.
- Operating Revenues- Welding: $493 million versus the five-analyst average estimate of $478.24 million. The reported number represents a year-over-year change of +9.6%.
- Operating Revenues- Polymers & Fluids: $447 million versus the five-analyst average estimate of $465.65 million. The reported number represents a year-over-year change of -7.1%.
View all Key Company Metrics for Illinois Tool Works here>>>Shares of Illinois Tool Works have returned +0.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.