Illinois Tool Works Reports Mixed Q2 Results and Revises EPS Guidance: Details
Portfolio Pulse from Akanksha Bakshi
Illinois Tool Works Inc. (NYSE: ITW) reported mixed Q2 2024 results, with revenue of $4.027 billion missing the consensus of $4.08 billion, but GAAP EPS of $2.54 beating the consensus of $2.47. The company revised its full-year GAAP EPS guidance to $10.30-$10.40 from $10.30-$10.70. ITW shares traded lower by 0.08% following the announcement.
July 30, 2024 | 1:51 pm
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Illinois Tool Works reported mixed Q2 2024 results with revenue missing expectations but EPS beating consensus. The company revised its full-year GAAP EPS guidance downward and expects flat revenue and organic growth for 2024. Shares traded lower by 0.08%.
The mixed results, with revenue missing but EPS beating expectations, along with the downward revision of full-year EPS guidance, suggest a neutral short-term impact on ITW's stock price. The slight decline in share price reflects investor sentiment.
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