GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Thursday reported first-quarter profit of $768 million.
The Glenview, Illinois-based company said it had net income of $2.66 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.55 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $4.02 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $4 billion.
Illinois Tool Works expects full-year earnings to be $11.10 to $11.50 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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