Illinois Tool Works (ITW) Tops Q2 EPS by 2c

Illinois Tool Works (NYSE: ITW) reported Q2 EPS of $1.30, $0.02 better than the analyst estimate of $1.28. Revenue for the quarter came in at $3.43 billion versus the consensus estimate of $3.45 billion.

Illinois Tool Works sees FY2015 EPS of $5.07-$5.23, versus the consensus of $5.13.

"ITW continues to execute very well in the face of an external operating environment that remains challenging on a number of levels. In the second quarter, the company delivered solid EPS growth with record operating margin of 21.3 percent and after-tax return on invested capital above 20 percent," said E. Scott Santi, chairman and chief executive officer. "Consistent with our strategy and despite the challenging near-term macro environment, we continue to focus on and invest in executing the steps necessary to position the company to deliver solid above-market organic growth. As we transition into the back-half of our current five-year Enterprise Strategy, we remain firmly on track to achieve our 2017 and beyond organic growth target of 200 basis points or more above global GDP.”

For earnings history and earnings-related data on Illinois Tool Works (ITW) click here.

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