Wall Street analysts expect Illinois Tool Works (ITW) to post quarterly earnings of $2.55 per share in its upcoming report, which indicates a year-over-year increase of 7.1%. Revenues are expected to be $4 billion, up 4.1% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Illinois Tool Works metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Operating Revenues- Test & Measurement and Electronics' will reach $693.00 million. The estimate indicates a year-over-year change of +6.3%.
It is projected by analysts that the 'Operating Revenues- Construction Products' will reach $453.41 million. The estimate indicates a year-over-year change of +2.4%.
According to the collective judgment of analysts, 'Operating Revenues- Food Equipment' should come in at $651.53 million. The estimate suggests a change of +3.9% year over year.
Analysts forecast 'Operating Revenues- Specialty Products' to reach $448.81 million. The estimate suggests a change of +3.2% year over year.
The average prediction of analysts places 'Operating Revenues- Automotive OEM' at $806.93 million. The estimate suggests a change of +2.7% year over year.
The collective assessment of analysts points to an estimated 'Operating Revenues- Welding' of $498.79 million. The estimate indicates a year-over-year change of +5.7%.
Analysts expect 'Operating Revenues- Polymers & Fluids' to come in at $448.36 million. The estimate points to a change of +4.5% from the year-ago quarter.
The consensus estimate for 'Operating Income- Automotive OEM' stands at $168.31 million. Compared to the current estimate, the company reported $151.00 million in the same quarter of the previous year.
Analysts predict that the 'Operating Income- Food Equipment' will reach $178.31 million. The estimate compares to the year-ago value of $166.00 million.
Based on the collective assessment of analysts, 'Operating Income- Test & Measurement and Electronics' should arrive at $155.54 million. The estimate compares to the year-ago value of $139.00 million.
Analysts' assessment points toward 'Operating Income- Specialty Products' reaching $135.48 million. Compared to the present estimate, the company reported $135.00 million in the same quarter last year.
The combined assessment of analysts suggests that 'Operating Income- Polymers & Fluids' will likely reach $120.66 million. The estimate is in contrast to the year-ago figure of $114.00 million.
View all Key Company Metrics for Illinois Tool Works here>>>Over the past month, shares of Illinois Tool Works have returned +5.3% versus the Zacks S&P 500 composite's +12.8% change. Currently, ITW carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Illinois Tool Works Inc. (ITW): Free Stock Analysis Report
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