Illinois Tool Works Inc Q3 Profit Increases, Beats Estimates

(RTTNews) - Illinois Tool Works Inc (ITW) announced a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $1.160 billion, or $3.91 per share. This compares with $772 million, or $2.55 per share, in last year's third quarter.

Excluding items, Illinois Tool Works Inc reported adjusted earnings of $2.65 per share for the period.

Analysts on average had expected the company to earn $2.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.6% to $3.966 billion from $4.031 billion last year.

Illinois Tool Works Inc earnings at a glance (GAAP) :

-Earnings (Q3): $1.160 Bln. vs. $772 Mln. last year. -EPS (Q3): $3.91 vs. $2.55 last year. -Revenue (Q3): $3.966 Bln vs. $4.031 Bln last year.