Illinois Tool Works Monday topped Street views on Q2 earnings, but missed slightly on revenues, and upped 2017 guidance. The company reported Q2 adjusted EPS of $1.66 per share, two cents above the consensus provided by Capital IQ. Reported EPS was $1.69 per share, up from $1.46 per share a year earlier.
Illinois Tool reported Q2 revenues of $3.60 billion, just below the $3.61 billion Street view, though up from $3.43 billion a year earlier. Illinois raised its 2017 full-year EPS guidance by $0.12 at the mid-point and expects EPS of $6.32 to $6.52, up from prior guidance of $6.20 to $6.40. The Street expects 2017 EPS of $6.38. For Q3, the company expects EPS of $1.57 to $1.67, compared to Street view of $1.66.