ITW - Illinois Tool Works EPS beats by $0.01 revenue in-line; updates full year guidance
Illinois Tool Works (NYSE:ITW): Q3 GAAP EPS of $2.02 beats by $0.01. Revenue of $3.56B (+7.6% Y/Y) in-line. Press Release The company expects total revenue growth of 13 to 14 percent and organic growth in the range of 11 to 12 percent vs. estimated growth of 14.67%; GAAP EPS guidance is updated to a range of $8.30 to $8.50 vs. consensus of $8.56; Operating margin is expected to be in the range of 23.5 to 24.5 percent, an increase of more than 100 basis points at the midpoint versus 2020 and Free cash flow is expected to be approximately 90 percent of net income adjusted for one-time tax benefits.
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Illinois Tool Works EPS beats by $0.01, revenue in-line; updates full year guidance