GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Tuesday reported first-quarter earnings of $819 million.
On a per-share basis, the Glenview, Illinois-based company said it had profit of $2.73. Earnings, adjusted for non-recurring gains, were $2.44 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.97 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $4.02 billion.
Illinois Tool Works expects full-year earnings to be $10.30 to $10.70 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITW at https://www.zacks.com/ap/ITW
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