GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Friday reported third-quarter profit of $821 million.
The Glenview, Illinois-based company said it had profit of $2.81 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.69 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $4.06 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $4.08 billion.
Illinois Tool Works expects full-year earnings in the range of $10.40 to $10.50 per share.
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