Illinois Tool Works (ITW) Reports In-Line Q4 Revenue, Offers FY Guidance

Illinois Tool Works (NYSE: ITW) reported Q4 EPS of $1.99, may not compare to the analyst estimate of $1.85. Revenue for the quarter came in at $3.47 billion versus the consensus estimate of $3.46 billion.

• GAAP EPS $1.99, an increase of 9%, including $0.11 of divestiture gains

GUIDANCE:

Illinois Tool Works sees FY2020 EPS of $7.65-$8.05, versus the consensus of $7.98.

• The company initiated full-year EPS guidance in a range of $7.65 to $8.05 per share. At current levels of demand, organic growth is forecast to be in the range of zero to two percent. Foreign currency translation and divestitures are projected to reduce revenues by one percentage point each. PLS impact is forecast to moderate to approximately 50 basis points. Operating margin is expected to improve and be in a range of 24.5 to 25 percent, with enterprise initiatives contributing approximately 100 basis points. Free cash flow is expected to be greater than 100 percent of net income. The Company expects an effective tax rate in the range of 23.5 to 24.5 percent and plans to repurchase approximately $2 billion of its shares in 2020.

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

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