Illinois Tool Works Inc. (ITW) reported first-quarter net income of $458 million, down from $473 million in the year-ago quarter, while earnings rose to $1.21 per share from $1.11 per share in the comparable quarter last year.
Income from continuing operations were $458 million or $1.21 per share, compared to $428 million or $1.01 per share in the prior year. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.17 for the quarter. Analysts' estimates typically exclude special items.
Operating revenue decreased to $3.34 billion from $3.57 billion last year, while 15 analysts expected revenue of $3.47 billion for the quarter.
Looking ahead to the second quarter 2015, the company forecasts earnings to be in a range of $1.22 to $1.30 per share and organic revenue growth to be 1 to 2 percent. Analysts currently expect the company to report second-quarter earnings per share of $1.36.
ITW lowered its 2015 earnings per share guidance to a range of $5.00 to $5.20 from its prior range of $5.15 to $5.35 per share. Analysts now expect the company to report full year 2015 earnings per share of $5.21.
Organic revenue growth for the year is projected to be 1 to 2 percent, down slightly from the previous forecast due to a more challenging capital spending environment.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.