From Financial Modeling Prep: 2024-10-30 13:55:00

Illinois Tool Works (NYSE: ITW) shares surged 3% after beating Q3 earnings estimates with adjusted EPS of $2.65, above the expected $2.51. Revenue came in at $4 billion, slightly below the projected $4.02 billion.

Despite a 1.4% drop in organic revenue, ITW increased its operating margin to 26.5% thanks to enterprise initiatives adding 130 basis points.

ITW raised its full-year earnings guidance to $11.63-$11.73 per share for 2024, a significant increase from the prior consensus of $10.17.



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