Illinois Tool Works Inc (ITW) recently announced a decrease in earnings for the fourth quarter compared to last year. However, the earnings did surpass market analysts' expectations.
The firm's net income was $717 million, equating to $2.38 per share. In contrast, the net income in last year’s fourth quarter was significantly higher, totaling $907 million or $2.95 per share.
When removing the effect of particular one-off items, the adjusted earnings of Illinois Tool Works Inc stood at $2.42 per share for this period.
According to numbers collected by Thomson Reuters, market analysts on average had predicted the company would earn $2.41 per share. Noteably, these estimates generally do not consider the impact of unusual items.
As for the company's quarterly revenue, it saw a minor increase of 0.3%, rising to $3.983 billion from $3.971 billion the previous year.
Overall, Illinois Tool Works Inc's earnings at a glance, following standard accounting practices, are as follows:
- Earnings for Q4: $717 million, which is a decrease from the $907 million of last year.
- Earnings per Share for Q4: $2.38, also a fall from $2.95 last year.
- Average Analyst Estimates: $2.41
- Revenue for Q4: $3.983 billion, an increase from $3.971 billion last year.
