GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Wednesday reported first-quarter profit of $700 million.
The Glenview, Illinois-based company said it had net income of $2.38 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.34 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.84 billion in the period, which matched Street forecasts.
Illinois Tool Works expects full-year earnings to be $10.15 to $10.55 per share.
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