Investing.com - Illinois Tool Works (NYSE:ITW) reported third quarter earnings that beat analysts' expectations on Friday and revenue that fell short of forecasts.
The firm reported earnings per share of $2.04 on revenue of $3.48B. Analysts polled by Investing.com forecast EPS of $1.95 on revenue of $3.54B. That compared to EPS of $1.9 on revenue of $3.61B in the same period a year earlier. The company had reported EPS of $1.91 on revenue of $3.61B in the previous quarter.
Illinois Tool Works shares gained 1.79% to trade at $163.00 in pre-market trade following the report.
Illinois Tool Works shares gained 1.79% to trade at $163.00 in pre-market trade following the report.
For the year, Illinois Tool Works shares are up 26.4%, outperforming the S&P 500 which is up 21.53% year to date.
Illinois Tool Works follows other major Consumer Cyclical sector earnings this month
On Wednesday, Tesla reported third quarter EPS of $1.86 on revenue of $6.3B, compared to forecasts of EPS of $-0.45 on revenue of $6.47B.
VF earnings missed analyst's expectations on Friday, with second quarter EPS of $1.26 on revenue of $3.39B. Investing.com analysts expected EPS of $1.3 on revenue of $3.42B
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