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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Illinois Tool Works Inc | NYSE:ITW | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.12 | 0.05% | 248.28 | 250.09 | 247.79 | 247.79 | 947,180 | 01:00:00 |
By Jeffrey T. Lewis
Illinois Tool Works Inc.'s profit increased in the fourth quarter as sales of automotive and food equipment jumped.
The Glenview, Il.-based industrial products and equipment maker reported net income of $907 million, compared with $609 million a year earlier. Earnings per share reached $2.95 from $1.93 and adjusted earnings per share increased 21% to $2.34. Revenue rose to $3.97 billion from $3.68 billion.
The sales and profit figures outperformed market expectations. The consensus compiled by FactSet was for revenue of $3.89 billion and net income of $767 million.
ITW said sales at five of its seven segments had double-digit organic growth in the quarter, with automotive OEM up 20% and food equipment up 17%.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
February 02, 2023 08:31 ET (13:31 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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