Illinois Tool Works Inc. (ITW) 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 $31.2 billion market capitalization.
However, this industrial tool maker faces risks from geopolitical issues and a competitive business environment. Also, uncertain economic conditions or depressed industrial activities as well as adverse foreign currency movements can severely impact its financials. Investors are eagerly waiting for the company’s latest earnings report.
Illinois Tool Works’ earnings estimate for 2015 has gone down by 0.2% in the last 30 days. However, the company performed well in the trailing four quarters, with a positive average earnings surprise of +3.37%.
Currently, ITW has a Zacks Rank #3 (Hold), but that could definitely change after the release of its upcoming earnings report. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Illinois Tool Works’ earnings from continuing operations came in at $1.39 per share in third-quarter of 2015. The bottom line result surpassed the Zacks Consensus Estimate of $1.36 per share.
Revenue: Revenues missed. Illinois Tool Works generated revenues of $3,354 million, below the Zacks Consensus Estimate of $3,436 million.
Key Stats to Note: Illinois Tool Works’ operating margin in the third quarter grew 180 basis points (bps) year over year to 22.7%. Enterprise initiatives added 110 bps to operating margin growth. The company reduced its 2015 earnings guidance to $5.05−$5.15 per share.
Stock Price: Illinois Tool Works shares were up 1.3% ahead of the report while no movement has been recorded in the pre-market trading session.
Check back our full write up on this ITW earnings report later!
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