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Illinois Tool Works (ITW) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, Illinois Tool Works (ITW - Free Report) reported revenue of $3.98 billion, up 0.3% over the same period last year. EPS came in at $2.42, compared to $2.34 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.01 billion, representing a surprise of -0.64%. The company delivered an EPS surprise of +0.83%, with the consensus EPS estimate being $2.40.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: -0.5% compared to the 0.5% average estimate based on three analysts.
Operating Revenue - Test & Measurement and Electronics - Organic growth: -1.4% versus the three-analyst average estimate of 0.8%.
Operating Revenue - Automotive OEM - Organic growth: 7.7% compared to the -0.4% average estimate based on three analysts.
Operating Revenue - Specialty Products - Organic growth: -5.4% versus the three-analyst average estimate of -4.6%.
Operating Revenues- Test & Measurement and Electronics: $731 million versus the four-analyst average estimate of $735.36 million. The reported number represents a year-over-year change of -0.1%.
Operating Revenues- Construction Products: $459 million versus the four-analyst average estimate of $468.27 million. The reported number represents a year-over-year change of -2.3%.
Operating Revenues- Food Equipment: $655 million versus the four-analyst average estimate of $678.89 million. The reported number represents a year-over-year change of +3.8%.
Operating Revenues- Specialty Products: $437 million versus $444.50 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
Operating Revenues- Intersegment revenues: -$4 million versus the four-analyst average estimate of -$5.21 million. The reported number represents a year-over-year change of -20%.
Operating Revenues- Automotive OEM: $814 million compared to the $741.75 million average estimate based on four analysts. The reported number represents a change of +9.3% year over year.
Operating Revenues- Welding: $451 million compared to the $478.38 million average estimate based on four analysts. The reported number represents a change of -6.2% year over year.
Operating Revenues- Polymers & Fluids: $440 million versus $467.24 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.3% change.
Shares of Illinois Tool Works have returned +1% over the past month versus the Zacks S&P 500 composite's +1.6% 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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Illinois Tool Works (ITW) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Illinois Tool Works (ITW - Free Report) reported revenue of $3.98 billion, up 0.3% over the same period last year. EPS came in at $2.42, compared to $2.34 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.01 billion, representing a surprise of -0.64%. The company delivered an EPS surprise of +0.83%, with the consensus EPS estimate being $2.40.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: -0.5% compared to the 0.5% average estimate based on three analysts.
- Operating Revenue - Test & Measurement and Electronics - Organic growth: -1.4% versus the three-analyst average estimate of 0.8%.
- Operating Revenue - Automotive OEM - Organic growth: 7.7% compared to the -0.4% average estimate based on three analysts.
- Operating Revenue - Specialty Products - Organic growth: -5.4% versus the three-analyst average estimate of -4.6%.
- Operating Revenues- Test & Measurement and Electronics: $731 million versus the four-analyst average estimate of $735.36 million. The reported number represents a year-over-year change of -0.1%.
- Operating Revenues- Construction Products: $459 million versus the four-analyst average estimate of $468.27 million. The reported number represents a year-over-year change of -2.3%.
- Operating Revenues- Food Equipment: $655 million versus the four-analyst average estimate of $678.89 million. The reported number represents a year-over-year change of +3.8%.
- Operating Revenues- Specialty Products: $437 million versus $444.50 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
- Operating Revenues- Intersegment revenues: -$4 million versus the four-analyst average estimate of -$5.21 million. The reported number represents a year-over-year change of -20%.
- Operating Revenues- Automotive OEM: $814 million compared to the $741.75 million average estimate based on four analysts. The reported number represents a change of +9.3% year over year.
- Operating Revenues- Welding: $451 million compared to the $478.38 million average estimate based on four analysts. The reported number represents a change of -6.2% year over year.
- Operating Revenues- Polymers & Fluids: $440 million versus $467.24 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.3% change.
View all Key Company Metrics for Illinois Tool Works here>>>Shares of Illinois Tool Works have returned +1% over the past month versus the Zacks S&P 500 composite's +1.6% 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.