Illinois Tool Works beat analysts’ expectations on its third-quarter earnings, while re-iterating its full year outlook. Quarterly revenue, however, missed estimates.
The industrial component & equipment maker’s earnings came in at $2.04 a share for Q3, surpassing analysts’ estimate of $1.94 a share. The EPS was also higher than the year-ago quarter’s $1.90.
The company’s revenue fell - 3.7% year—over-year to $3.48 billion in the quarter, compared to analysts’ expectation of $3.54 billion (based on FactSet data).
Its operating margin expanded +0.4 percentage point to 25%.
For the full-year 2019, Illinois Tool Works maintained its GAAP EPS guidance of $7.55 to $7.85 a share range, compared to analysts’ forecast of $7.58.