Illinois Tool Works Q2 2024 GAAP EPS $2.54 Beats $2.47 Estimate, Sales $4.027B Miss $4.080B Estimate
Portfolio Pulse from Benzinga Newsdesk
Illinois Tool Works (NYSE:ITW) reported Q2 2024 GAAP EPS of $2.54, beating the estimate of $2.47, but sales of $4.027 billion missed the $4.080 billion estimate.
July 30, 2024 | 12:03 pm
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Illinois Tool Works reported Q2 2024 GAAP EPS of $2.54, beating the analyst estimate of $2.47. However, sales of $4.027 billion missed the $4.080 billion estimate. EPS increased by 2.42% year-over-year, while sales decreased by 1.15%.
The earnings beat is a positive sign, but the sales miss and year-over-year sales decline may offset the positive sentiment. The mixed results are likely to result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100