Earnings Preview: Illinois Tool Works
Illinois Tool Works (ITW) is expected to report Q2 earnings before market open Thursday, October 16, with a conference call scheduled for 2:00 pm ET.
Guidance
Analysts are looking for EPS of 93c on revenue of $4.46B. The consensus range is 84c to 98c for EPS, and $4.14B to $4.56B for revenue, according to First Call. Illinois Tool Works gave guidance with it reported its Q2 results. The company expected Q3 EPS of 93c to 99c vs. consensus of 95c at the time of Q2 earnings report. The company also expected Q3 revenue growth of 10% to 14%. On October 7, Illinois Tool Works lowered its Q3 EPS view to 86c to 90c vs. consensus of 93c. The company lowered its revenue growth rate estimate to 9% to 11%. At the time the company reported its Q2 earnings it expected FY08 EPS of $3.40 to $3.52 vs. consensus, at the time, of $3.64. The FY08 forecast assumed a total company revenue growth range of 9% to 12%. The FY08 forecast also reflects a 22c after-tax charge to earnings taken in Q1 due to impairment and European tax charges. The company also lowered its FY08 EPS guidance, now expecting EPS of $3.22 to $3.34 vs. consensus of $3.62. This forecast assumes a lowered revenue growth rate of 9% to 11%.
Analyst Views
Citigroup lowered Machinery estimates and targets across the board, on October 1, citing the credit crunch and a slowdown in short cycle businesses. The firm downgraded Illinois Tool Works to Hold from Buy citing reduced expectations.
Related Articles
|
Top Rated Comment Streams:
-
1.Hedged In660
- 2.
-
3.Smarty_Pants386
-
4.cos1000286
-
5.NOWHEREMAN273
- Free E-Newsletters
- About Seeking Alpha
- About Us
- Contact Us
- What's New
- Readers Feedback
- Advertise With Us
- Contributors
- Contribute an Article
- Feature Your Book
- Our Contributors
- Anonymous Contributions
- Dispute an Article?
- Legal
- Terms of Use
- Privacy
- Copyright