Illinois Tool Works Q2 EPS $2.41 Beats $2.39 Estimate, Sales $4.10B Miss $4.13B Estimate
Portfolio Pulse from Benzinga Newsdesk
Illinois Tool Works (NYSE:ITW) reported Q2 earnings of $2.41 per share, beating the analyst consensus estimate of $2.39 by 0.84 percent. This is a 9.05 percent increase from last year. However, the company's quarterly sales of $4.10 billion missed the analyst consensus estimate of $4.13 billion by 0.77 percent, a 2.22 percent increase from last year.
August 01, 2023 | 12:25 pm
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NEUTRAL IMPACT
ITW's Q2 earnings beat estimates but sales missed, which could lead to mixed market reactions.
ITW's earnings beat could boost investor confidence, but the sales miss might offset this positive sentiment. The net impact on the stock price could be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100