Recap: Illinois Tool Works Q2 Earnings

Shares of Illinois Tool Works ITW were unchanged after the company reported Q2 results.

Quarterly Results

Earnings per share rose 142.57% year over year to $2.45, which beat the estimate of $2.05.

Revenue of $3,676,000,000 rose by 43.37% year over year, which beat the estimate of $3,540,000,000.

Looking Ahead

Illinois Tool Works raised FY21 EPS guidance from $8.20-$8.60 to $8.55-$8.95.

Details Of The Call

Date: Jul 30, 2021

Time: 10:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fpro.benzinga.com%2F&eventid=3192268&sessionid=1&key=EBA1FBEB7F4D9CCC17F2088872411796&regTag=&V2=false&sourcepage=register

Price Action

52-week high: $242.06

52-week low: $182.54

Price action over last quarter: down 2.21%

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.