Illinois Tool Works: 4Q Earnings Snapshot
GLENVIEW, Ill. (AP) _ Illinois Tool Works Inc. (ITW) on Friday reported fourth-quarter net income of $607 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Glenview, Illinois-based company said it had profit of $1.83.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.82 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.58 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $3.62 billion.
For the year, the company reported profit of $2.56 billion, or $7.60 per share.