Illinois Tool Works: Q2 Earnings Snapshot

Associated Press Finance
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GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Tuesday reported second-quarter earnings of $759 million.

On a per-share basis, the Glenview, Illinois-based company said it had profit of $2.54.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.45 per share.

The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $4.03 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $4.08 billion.

Illinois Tool Works expects full-year earnings to be $10.30 to $10.40 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITW at https://www.zacks.com/ap/ITW