GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Wednesday reported fourth-quarter net income of $750 million.
On a per-share basis, the Glenview, Illinois-based company said it had net income of $2.54.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.49 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.93 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $3.98 billion.
For the year, the company reported profit of $3.49 billion, or $11.71 per share. Revenue was reported as $15.9 billion.
Illinois Tool Works expects full-year earnings to be $10.15 to $10.55 per share.
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