Illinois Tool Works: Q3 Earnings Insights

Shares of Illinois Tool Works ITW were flat in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 10.29% over the past year to $1.83, which beat the estimate of $1.46.

Revenue of $3,307,000,000 decreased by 4.94% year over year, which beat the estimate of $2,970,000,000.

Outlook

Illinois Tool Works hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Oct 23, 2020

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=&eventid=2626309&sessionid=1&key=800C4756EF280171A18A7D4C7B328704&regTag=&sourcepage=register

Recent Stock Performance

Company's 52-week high was at $207.75

Company's 52-week low was at $115.94

Price action over last quarter: Up 8.50%

Company Description

Illinois Tool Works is a diversified global manufacturer that produces specialized industrial equipment, consumables, and related services. The firm operates 87 global divisions through seven distinct operating segments: automotive OEM, construction products, food equipment, specialty products, test/measurement and electronics, polymers and fluids, and welding. About half of its revenue comes from its operations in North America, with the remainder originating from international markets. ITW takes a bottom-up and decentralized approach to portfolio management, with the exception that each segment must apply its 80/20 operating process modeled on the Pareto principle.