Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

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

Quick Facts

Editors Pick
U.S. astronauts once again will travel to and from the International Space Station from the United States on American spacecraft under groundbreaking contracts NASA announced Tuesday. The US space agency unveiled its selection of Boeing and SpaceX to transport U.S. crews to and from the space station using their CST-100 and Crew Dragon spacecraft, respectively. "From day one, the Obama Administra China's central bank is providing stimulus to the country's largest lenders to boost liquidity amid slowing growth, media reports said Wednesday, citing government and banking sources. The People's Bank of China is injecting CNY 500 billion or $81 billion for a three-month period into the top five... Europe's passenger car registrations continued to rise in August, pursuing the upward trend commenced twelve months ago, the European Automobile Manufacturers Association reported Wednesday. Car sales increased 2.1 percent in August and 5.6 percent in July. Overall, 688,464 new cars were registered...
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.