GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Wednesday reported third-quarter net income of $1.16 billion.
On a per-share basis, the Glenview, Illinois-based company said it had profit of $3.91. Earnings, adjusted for non-recurring gains, were $2.65 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.53 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.97 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $4.02 billion.
Illinois Tool Works expects full-year earnings to be $11.63 to $11.73 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITW at https://www.zacks.com/ap/ITW
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