Illinois Tool Works falls as Q2 rev miss overshadows outlook raise

Illinois Tool Works

01/08/2023 14:43

** Shares of automotive components and food processing
equipment maker Illinois Tool Works  ITW.N  fall 4.6% to $251.3
in early trade
    ** It reports Q2 rev of $4.075 bln, missing analysts'
consensus of $4.134 bln - Refinitiv
    ** Raises FY EPS guidance by 10 cents to range of
$9.55-$9.95
    ** Reports Q2 adj. EPS of $2.41 vs estimate of 2.39
    ** Three of 22 analysts rate the stock "buy" or higher, 15
"hold" and four "sell" or lower; their median PT is $245
    ** Including Tuesday's losses, stock up 14.1% YTD

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))