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Illinois Tool Works Inc Q1 Profit Retreats

Illinois Tool Works Inc (ITW) released earnings for first quarter that dropped from the same period last year.

The company's profit came in at $566 million, or $1.77 per share. This compares with $597 million, or $1.81 per share, in last year's first quarter.

Analysts had expected the company to earn $1.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.0% to $3.23 billion from $3.55 billion last year.

Illinois Tool Works Inc earnings at a glance:

-Earnings (Q1): $566 Mln. vs. $597 Mln. last year.
-EPS (Q1): $1.77 vs. $1.81 last year.
-Analysts Estimate: $1.71
-Revenue (Q1): $3.23 Bln vs. $3.55 Bln last year.

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