Illinois Tool's Q3 Earnings Surpass Estimates, Revenues Miss

Zacks10-30

Illinois Tool Works Inc. ITW reported third-quarter 2024 adjusted earnings of $2.65 per share, which surpassed the Zacks Consensus Estimate of $2.53. Earnings increased 4% year over year. Stay up-to-...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2479732791?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/JXmFQW913q98ConKB.SZwg--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/1c833dc9821c12944977deb4e4e4502c","is_english":true,"pubTime":"2024-10-30 23:56","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2479732791","market":"us","top_or_hot":-1,"title":"Illinois Tool's Q3 Earnings Surpass Estimates, Revenues Miss","media":"Zacks","content":"<div>\n<p>Illinois Tool Works Inc. ITW reported third-quarter 2024 adjusted earnings of $2.65 per share, which surpassed the Zacks Consensus Estimate of $2.53. Earnings increased 4% year over year.\nStay up-to-...</p>\n\n<a href=\"https://finance.yahoo.com/news/illinois-tools-q3-earnings-surpass-155600200.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Illinois Tool's Q3 Earnings Surpass Estimates, Revenues Miss</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIllinois Tool's Q3 Earnings Surpass Estimates, Revenues Miss\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-30 23:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/illinois-tools-q3-earnings-surpass-155600200.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Illinois Tool Works Inc. ITW reported third-quarter 2024 adjusted earnings of $2.65 per share, which surpassed the Zacks Consensus Estimate of $2.53. Earnings increased 4% year over year.\nStay up-to-...</p>\n\n<a href=\"https://finance.yahoo.com/news/illinois-tools-q3-earnings-surpass-155600200.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GHM","symbol_name":"Graham Corp","start_time":0,"source_url":"https://finance.yahoo.com/news/illinois-tools-q3-earnings-surpass-155600200.html","article_id":"2479732791","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/JXmFQW913q98ConKB.SZwg--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/1c833dc9821c12944977deb4e4e4502c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479732791","pubTimestamp":1730303760,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Illinois Tool Works Inc. ITW reported third-quarter 2024 adjusted earnings of $2.65 per share, which surpassed the Zacks Consensus Estimate of $2.53. Earnings increased 4% year over year.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Illinois Tool’s revenues of $3.97 billion missed the consensus estimate of $4.01 billion. The top line declined 1.6% year over year owing to a decrease of 1.4% in organic sales. While acquisition increased revenues by 0.2%, unfavorable foreign currency translation had an adverse impact of 0.4%.Illinois Tool Works Inc. Price, Consensus and EPS Surprise. Illinois Tool Works Inc. price-consensus-eps-surprise-chart | Illinois Tool Works Inc. Quote. Illinois Tool expects earnings to be in the range of $11.63-$11.73 per share, higher than the earlier guidance of $10.30-$10.40 . Total revenues and organic revenues are expected to be flat. Operating margin is expected to be in the band of 26.5-27%. Enterprise initiatives are expected to c","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"GHM":"Graham Corp","ITW":"伊利诺伊机械","GHC":"格雷厄姆控股","PH":"汉尼汾"},"translate_title":"伊利诺伊工具公司第三季度盈利超出预期，收入未达预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ITW":1,"GHC":0.9,"GHM":0.9,"PH":0.9},"content_text":"Illinois Tool Works Inc. ITW reported third-quarter 2024 adjusted earnings of $2.65 per share, which surpassed the Zacks Consensus Estimate of $2.53. Earnings increased 4% year over year.\nStay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Illinois Tool’s revenues of $3.97 billion missed the consensus estimate of $4.01 billion. The top line declined 1.6% year over year owing to a decrease of 1.4% in organic sales. While acquisition increased revenues by 0.2%, unfavorable foreign currency translation had an adverse impact of 0.4%.\nITW’s Segmental Performance\nTest & Measurement and Electronics’ revenues were down 0.2% year over year to $697 million. Our estimate for segmental revenues was $696.5 million. Revenues from Automotive Original Equipment Manufacturer decreased 3.3% year over year to $772 million. Our estimate for segmental revenues was $813.8 million.Food Equipment generated revenues of $677 million, down 0.2% year over year. Our estimate for segmental revenues was $700.2 million. Welding revenues were $462 million, down 1.3% year over year. Our estimate for segmental revenues was $452.9 million.Construction Products’ revenues were down 8.1% year over year to $479 million. Our estimate for segmental revenues was $510.1 million. Revenues of $438 million from Specialty Products reflected an increase of 5.7% year over year. Our estimate for segmental revenues was $417.5 million. Polymers & Fluids’ revenues of $448 million declined 1.9% year over year. Our estimate for segmental revenues was $463.6 million.\n\nIllinois Tool Works Inc. Price, Consensus and EPS Surprise\n  \nIllinois Tool Works Inc. price-consensus-eps-surprise-chart | Illinois Tool Works Inc. Quote\n\nITW’s Margin Profile\nIllinois Tool’s cost of sales decreased 3.8% year over year to $2.23 billion. Selling, administrative and research and development expenses increased 7% year over year to $658 million. The operating margin was 26.5%, stable from the year-ago quarter. Enterprise initiatives contributed 130 basis points (bps) to the operating margin.\nBalance Sheet and Cash Flow\nAt the end of the third quarter, Illinois Tool had cash and equivalents of $947 million compared with $1.1 billion at the end of December 2023. Long-term debt was $6.6 billion compared with $6.3 billion at the end of December 2023.In the first nine months of 2024, Illinois Tool generated net cash of $2.2 billion from operating activities, reflecting a decline of 13.3% from the year-ago number. Capital spending on the purchase of plant and equipment was $319 million, down 1.5% year over year. Free cash flow of $1.85 billion decreased 15.1% year over year.\nITW’s 2024 Guidance\nIllinois Tool expects earnings to be in the range of $11.63-$11.73 per share, higher than the earlier guidance of $10.30-$10.40 . Total revenues and organic revenues are expected to be flat. Operating margin is expected to be in the band of 26.5-27%. Enterprise initiatives are expected to contribute more than 100 bps to the operating margin.Illinois Tool projects free cash flow to be approximately 100% of net income. The company expects to repurchase about $1.5 billion worth of shares. The effective tax rate is expected to be 21.5%.\nZacks Rank & Stocks to Consider\nITW currently carries a Zacks Rank #3 (Hold).\nSome better-ranked companies are discussed below:Graham Corporation GHM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.GHM delivered a trailing four-quarter average earnings surprise of 133.2%. In the past 60 days, the Zacks Consensus Estimate for Graham’s fiscal 2025 earnings has remained stable.Ingersoll-Rand plc IR presently carries a Zacks Rank of 2. IR delivered a trailing four-quarter average earnings surprise of 11%.In the past 60 days, the consensus estimate for Ingersoll-Rand’s 2024 earnings has inched up 0.6%.Parker-Hannifin Corporation PH currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 11.2%.In the past 60 days, the consensus estimate for Parker-Hannifin’s fiscal 2025 (ending June 2025) earnings has increased 0.3%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nIllinois Tool Works Inc. (ITW) : Free Stock Analysis Report\nParker-Hannifin Corporation (PH) : Free Stock Analysis Report\nIngersoll Rand Inc. (IR) : Free Stock Analysis Report\nGraham Corporation (GHM) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479732791"}