Illinois Tool Works Inc. (ITW) recently forecasted an increase in its full-year revenues and earnings from the previous year while announcing its results for the fourth quarter. Along with this, the company, known for producing industrial products and equipment, also disclosed its plan to buy back around $1.5 billion worth of shares in 2024.
ITW predicts an annual net income per share ranging from $10 to $10.40, marking a 5% year-over-year increase. The company reported a net income per share of $9.74 for the full-year of 2023. The average projection from 18 analysts surveyed by Thomson Reuters place the company's income per share at approximately $10.18.
With consideration to its current demand levels, ITW anticipates an annual revenue growth between 2% to 4%. The company previously reported a revenue of $16.107 billion for the full-year 2023. Analysts' average prediction pegs the company's revenue at around $16.52 billion for the year.
