Illinois Tool Works Posts Q2 EPS Beat, Shy on Revenues

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.

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