We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Illinois Tool Works (ITW) Reports Q1 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
Illinois Tool Works (ITW - Free Report) reported $3.97 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.1%. EPS of $2.44 for the same period compares to $2.33 a year ago.
The reported revenue represents a surprise of -1.18% over the Zacks Consensus Estimate of $4.02 billion. With the consensus EPS estimate being $2.35, the EPS surprise was +3.83%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: -0.6% compared to the -0.8% average estimate based on three analysts.
Operating Revenue - Test & Measurement and Electronics - Organic growth: -1.3% versus -1.5% estimated by three analysts on average.
Operating Revenue - Automotive OEM - Organic growth: 3.4% versus 2.5% estimated by three analysts on average.
Operating Revenue - Specialty Products - Organic growth: 5.5% compared to the -4.1% average estimate based on three analysts.
Operating Revenues- Test & Measurement and Electronics: $696 million compared to the $705.61 million average estimate based on five analysts. The reported number represents a change of -1% year over year.
Operating Revenues- Construction Products: $488 million versus the five-analyst average estimate of $498.12 million. The reported number represents a year-over-year change of -7.2%.
Operating Revenues- Food Equipment: $631 million versus $659.11 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.6% change.
Operating Revenues- Specialty Products: $440 million versus the five-analyst average estimate of $408.26 million. The reported number represents a year-over-year change of +4%.
Operating Revenues- Intersegment revenues: -$6 million versus -$4.33 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +50% change.
Operating Revenues- Automotive OEM: $816 million versus the five-analyst average estimate of $823.66 million. The reported number represents a year-over-year change of +2.5%.
Operating Revenues- Welding: $476 million versus $490.61 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -3.5% change.
Operating Revenues- Polymers & Fluids: $432 million versus the five-analyst average estimate of $443.99 million. The reported number represents a year-over-year change of -3.4%.
Shares of Illinois Tool Works have returned -6% over the past month versus the Zacks S&P 500 composite's -2.5% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Illinois Tool Works (ITW) Reports Q1 Earnings: What Key Metrics Have to Say
Illinois Tool Works (ITW - Free Report) reported $3.97 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1.1%. EPS of $2.44 for the same period compares to $2.33 a year ago.
The reported revenue represents a surprise of -1.18% over the Zacks Consensus Estimate of $4.02 billion. With the consensus EPS estimate being $2.35, the EPS surprise was +3.83%.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: -0.6% compared to the -0.8% average estimate based on three analysts.
- Operating Revenue - Test & Measurement and Electronics - Organic growth: -1.3% versus -1.5% estimated by three analysts on average.
- Operating Revenue - Automotive OEM - Organic growth: 3.4% versus 2.5% estimated by three analysts on average.
- Operating Revenue - Specialty Products - Organic growth: 5.5% compared to the -4.1% average estimate based on three analysts.
- Operating Revenues- Test & Measurement and Electronics: $696 million compared to the $705.61 million average estimate based on five analysts. The reported number represents a change of -1% year over year.
- Operating Revenues- Construction Products: $488 million versus the five-analyst average estimate of $498.12 million. The reported number represents a year-over-year change of -7.2%.
- Operating Revenues- Food Equipment: $631 million versus $659.11 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -0.6% change.
- Operating Revenues- Specialty Products: $440 million versus the five-analyst average estimate of $408.26 million. The reported number represents a year-over-year change of +4%.
- Operating Revenues- Intersegment revenues: -$6 million versus -$4.33 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +50% change.
- Operating Revenues- Automotive OEM: $816 million versus the five-analyst average estimate of $823.66 million. The reported number represents a year-over-year change of +2.5%.
- Operating Revenues- Welding: $476 million versus $490.61 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -3.5% change.
- Operating Revenues- Polymers & Fluids: $432 million versus the five-analyst average estimate of $443.99 million. The reported number represents a year-over-year change of -3.4%.
View all Key Company Metrics for Illinois Tool Works here>>>Shares of Illinois Tool Works have returned -6% over the past month versus the Zacks S&P 500 composite's -2.5% 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.