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Illinois Tool Works (ITW) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, Illinois Tool Works (ITW - Free Report) reported revenue of $4.03 billion, down 1.2% over the same period last year. EPS came in at $2.54, compared to $2.41 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.08 billion, representing a surprise of -1.38%. The company delivered an EPS surprise of +3.67%, with the consensus EPS estimate being $2.45.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Illinois Tool Works performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Operating Revenue - Organic growth - Total ITW: -1.2% compared to the 0.4% average estimate based on three analysts.
Operating Revenue - Test & Measurement and Electronics - Organic growth: -3.2% versus 0.9% estimated by three analysts on average.
Operating Revenue - Automotive OEM - Organic growth: -1.3% versus 2.1% estimated by three analysts on average.
Operating Revenue - Specialty Products - Organic growth: 6.2% versus the three-analyst average estimate of -2.3%.
Operating Revenues- Test & Measurement and Electronics: $678 million compared to the $706.47 million average estimate based on five analysts. The reported number represents a change of -3.1% year over year.
Operating Revenues- Construction Products: $504 million versus $502.33 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.2% change.
Operating Revenues- Food Equipment: $667 million versus the five-analyst average estimate of $670.57 million. The reported number represents a year-over-year change of +2%.
Operating Revenues- Specialty Products: $449 million versus the five-analyst average estimate of $412.56 million. The reported number represents a year-over-year change of +6.2%.
Operating Revenues- Intersegment revenues: -$6 million compared to the -$4.70 million average estimate based on five analysts. The reported number represents a change of +50% year over year.
Operating Revenues- Automotive OEM: $815 million compared to the $839.04 million average estimate based on five analysts. The reported number represents a change of -1.3% year over year.
Operating Revenues- Welding: $466 million versus $491.85 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.9% change.
Operating Revenues- Polymers & Fluids: $454 million compared to the $464.18 million average estimate based on five analysts. The reported number represents a change of -1.1% year over year.
Shares of Illinois Tool Works have returned +6.3% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Illinois Tool Works (ITW) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2024, Illinois Tool Works (ITW - Free Report) reported revenue of $4.03 billion, down 1.2% over the same period last year. EPS came in at $2.54, compared to $2.41 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.08 billion, representing a surprise of -1.38%. The company delivered an EPS surprise of +3.67%, with the consensus EPS estimate being $2.45.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Illinois Tool Works performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Operating Revenue - Organic growth - Total ITW: -1.2% compared to the 0.4% average estimate based on three analysts.
- Operating Revenue - Test & Measurement and Electronics - Organic growth: -3.2% versus 0.9% estimated by three analysts on average.
- Operating Revenue - Automotive OEM - Organic growth: -1.3% versus 2.1% estimated by three analysts on average.
- Operating Revenue - Specialty Products - Organic growth: 6.2% versus the three-analyst average estimate of -2.3%.
- Operating Revenues- Test & Measurement and Electronics: $678 million compared to the $706.47 million average estimate based on five analysts. The reported number represents a change of -3.1% year over year.
- Operating Revenues- Construction Products: $504 million versus $502.33 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.2% change.
- Operating Revenues- Food Equipment: $667 million versus the five-analyst average estimate of $670.57 million. The reported number represents a year-over-year change of +2%.
- Operating Revenues- Specialty Products: $449 million versus the five-analyst average estimate of $412.56 million. The reported number represents a year-over-year change of +6.2%.
- Operating Revenues- Intersegment revenues: -$6 million compared to the -$4.70 million average estimate based on five analysts. The reported number represents a change of +50% year over year.
- Operating Revenues- Automotive OEM: $815 million compared to the $839.04 million average estimate based on five analysts. The reported number represents a change of -1.3% year over year.
- Operating Revenues- Welding: $466 million versus $491.85 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.9% change.
- Operating Revenues- Polymers & Fluids: $454 million compared to the $464.18 million average estimate based on five analysts. The reported number represents a change of -1.1% year over year.
View all Key Company Metrics for Illinois Tool Works here>>>Shares of Illinois Tool Works have returned +6.3% over the past month versus the Zacks S&P 500 composite's +0.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.