Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Illinois Tool Works Q1 Profit Down; Lifts FY12 EPS View - Quick Facts

RELATED NEWS
Trade ITW now with 

Illinois Tool Works Inc. (ITW: Quote) reported that its first-quarter net income declined to $486 million or $1.00 per share, from $623 million or $1.24 per share in the same quarter last year.

The company reported first quarter 2012 income per share from continuing operations of $0.97. Excluding a one-time tax benefit of $0.33 associated with an Australian tax matter in the 2011 first quarter, income per share from continuing operations in the 2012 first quarter increased 10.2 percent versus the year-ago period.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues for the quarter rose to $4.55 billion from $4.27 billion in the prior year quarter. Sixteen analysts had consensus revenue estimate of $4.60 billion for the quarter.

For the 2012 second quarter, the company forecasts income per share from continuing operations to be in the range of $1.08 to $1.16 and total revenue growth range of 3.5 percent to 6.0 percent. Analysts expect the company to report earnings of $1.08 per share on revenues of $4.92 billion for the second-quarter.

The company said it raised its 2012 full-year income per share from continuing operations forecast, due to better-than-expected first quarter results and share repurchase activity.

The company now expects full-year income per share from continuing operations to be in the range of $4.14 to $4.38 versus the prior forecasted range of $4.02 to $4.26.

Full-year revenue growth is now expected to be in a range of 5.0 percent to 7.0 percent. Previously, Total revenue growth was expected in the range of 5 to 8 percent.

Analysts expect the company to report earnings of $4.15 per share on revenues of $19.04 billion for fiscal 2012.

Register
To receive FREE breaking news email alerts for Illinois Tool Works Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After moving mostly higher in early trading on Tuesday, stocks have given back ground over the course of the trading session. A negative reaction to news of new European sanctions against Russia contributed to the pullback by the markets. Consumer confidence in the U.S. improved for the third consecutive month in July, according to a report released by the Conference Board on Tuesday, with the consumer confidence index jumping to its highest level in almost seven years. Stocks have moved mostly higher in early trading on Tuesday after ending the previous session roughly flat. The major averages have climbed into positive territory, although there does not seem to be much conviction behind the upward move.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.