Illinois Tool Works Guides FY22 In Line; Q4 Results Top Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, Illinois Tool Works, Inc. (ITW) initiated earnings, revenue and organic revenue guidance for the full-year 2022, in line with analysts' estimates.

For fiscal 2022, the company now projects earnings in the range of $8.90 to $9.30 per share, an increase of 5 to 9% or 10 to 15% excluding 2021 one-time tax items, on revenue growth of 7.5 to 10.5 percent, with organic revenue growth of 6 to 9 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.10 per share on revenue growth of 7.9 percent to $15.44 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, net income decreased to $609 million or $1.93 per share from $642 million or $2.02 per share in the year-ago quarter. Operating revenue for the quarter grew 6 percent to $3.68 billion from $3.48 billion in the same quarter last year, with organic revenue growth of 5.3 percent.

The Street was looking for earnings of $1.90 per share on revenue of $3.55 billion for the quarter.