Core Insights - Illinois Tool Works (ITW) reported quarterly earnings of $2.54 per share, exceeding the Zacks Consensus Estimate of $2.45 per share, and up from $2.41 per share a year ago [1][2] - The company posted revenues of $4.03 billion for the quarter, missing the Zacks Consensus Estimate by 1.38% and down from $4.07 billion year-over-year [3] - The stock has underperformed the market, losing about 5.3% since the beginning of the year compared to the S&P 500's gain of 14.5% [4] Earnings Performance - The earnings surprise for the quarter was 3.67%, with the company having surpassed consensus EPS estimates in all of the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is $2.58, with expected revenues of $4.13 billion, and for the current fiscal year, the consensus EPS is $10.14 on revenues of $16.31 billion [8] Market Outlook - The estimate revisions trend for Illinois Tool Works is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [7] - The Manufacturing - General Industrial industry, to which ITW belongs, is ranked in the bottom 41% of over 250 Zacks industries, suggesting potential challenges ahead [9] Competitor Insights - Markforged Holding Corporation (MKFG), another company in the same industry, is expected to report a quarterly loss of $0.06 per share, with revenues projected at $21.76 million, down 14.5% year-over-year [10]

• Revenue of $4.0 billion, a decrease of 1% with flat organic growth • Operating income of $1.05 billion, an increase of 4.5% • Operating margin of 26.2%, an increase of 140 bps as enterprise initiatives contributed 140 bps • GAAP EPS of $2.54, an increase of 2%; Excl. a one-time 2023 tax item, EPS increased 5% • Narrowing full year GAAP EPS guidance to a range of $10.30 to $10.40 per share Second quarter revenue of $4.0 billion declined by 1.2 percent as organic growth declined 0.1 percent. Foreign currenc ...

Revenue of $4.0 billion, a decrease of 1% with flat organic growth Operating income of $1.05 billion, an increase of 4.5% Operating margin of 26.2%, an increase of 140 bps as enterprise initiatives contributed 140 bps GAAP EPS of $2.54, an increase of 2%; Excl. a one-time 2023 tax item, EPS increased 5% Narrowing full year GAAP EPS guidance to a range of $10.30 to $10.40 per share GLENVIEW, Ill., July 30, 2024 (GLOBE NEWSWIRE) -- Illinois Tool Works Inc. (NYSE: ITW) today reported its second quarter 2024 re ...

"While the demand environment continued to moderate across our portfolio, we delivered a solid quarter with strong operational execution and profitability," said Christopher A. O'Herlihy, President and Chief Executive Officer. "Our ability to overcome near-term macro challenges and expand our margin and profitability to record levels as evidenced by margin improvement of 140 basis points to 26.2 percent and EPS growth of more than five percent, is a direct result of the focused execution by our team of dedi ...

Zacks Consensus Estimate Revenues are expected to be $4.09 billion, up 0.4% from the year-ago quarter. Earnings Whisper A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. How Have the Numbers Shaped Up for Illinois Tool Works? O ...

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In the past month, the Zacks Rank #3 (Hold) company has lost 4.6% compared with the industry's 6.7% decline. However, softness in the consumer electronics and semiconductor end markets is affecting revenues at Illinois Tool's Test & Measurement and Electronics segment (revenues down 0.9% year over year in the first quarter). Also, lower demand in North America and Asia Pacific is affecting the segment's electronics assembly businesses. ITW's focus on cost management and enterprise initiatives has been suppo ...

Illinois Tool Works in Focus ITW is expecting earnings to expand this fiscal year as well. The Zacks Consensus Estimate for 2024 is $10.22 per share, with earnings expected to increase 4.50% from the year ago period. Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. During periods of rising interest rates, income investors must be mindful that high-yie ...

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