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Illinois Tool Works maintains 4Q earnings forecast
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GLENVIEW, Ill. - Illinois Tool Works Inc. maintained its fourth-quarter earnings from continuing operations guidance on Monday.
The industrial products maker still anticipates income from continuing operations of 54 cents to 66 cents per share, which implies revenue will be down 1 percent to up 5 percent compared with the third quarter.
Analysts polled by Thomson Reuters, whose estimates typically exclude one-time items, forecast a fourth-quarter profit of 62 cents per share.
Illinois Tool Works also said its third-quarter operating revenue fell 18 percent, partly hurt by the stronger dollar. Acquisitions added 3 percent to revenue for the period ended Oct. 31.
Shares rose 57 cents to $49.55 in premarket trading.
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