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ILLINOIS TOOL WORKS INC.

(ITW)
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Illinois Tool Works 1Q Revenue Growth Driven by Demand Across Segments

04/30/2021 | 08:30am EDT

By Matt Grossman

Illinois Tool Works Inc. on Friday posted a larger profit and growing revenue year over year as demand recovered across the company's business lines.

The Glenview, Ill.-based manufacturing company posted net income of $2.11 a share, compared with $1.78 a share in the same three-month period a year earlier. Analysts polled by FactSet were expecting a profit of $1.88 a share.

Total net income rose to $671 million, from $566 million in last year's first quarter.

Illinois Tool Works' first-quarter revenue climbed to $3.54 billion, from $3.23 billion in the year-ago quarter. Analysts were forecasting revenue of $3.44 billion.

On an organic basis, construction products represented Illinois Tool Works' fastest-growing segment, with revenue expanding 13% organically year over year. The company's segments for test, measurement and electronics; polymers and fluids; automotive; specialty products and welding all recorded year-over-year organic sales growth as well.

Food-equipment sales were down by 10% organically year over year, but demand trends improved compared with the fourth quarter, Illinois Tool Works said.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

04-30-21 0829ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.11.16%
ILLINOIS TOOL WORKS INC. 0.23% 238.5 Delayed Quote.16.98%
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Financials (USD)
Sales 2021 14 338 M - -
Net income 2021 2 683 M - -
Net Debt 2021 5 301 M - -
P/E ratio 2021 28,0x
Yield 2021 1,93%
Capitalization 75 338 M 75 338 M -
EV / Sales 2021 5,62x
EV / Sales 2022 5,32x
Nbr of Employees 43 000
Free-Float 57,3%
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Technical analysis trends ILLINOIS TOOL WORKS INC.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Average target price 238,28 $
Last Close Price 238,50 $
Spread / Highest target 11,5%
Spread / Average Target -0,09%
Spread / Lowest Target -23,3%
EPS Revisions
Managers and Directors
NameTitle
Ernest Scott Santi Chairman & Chief Executive Officer
Michael M. Larsen Chief Financial Officer & Senior Vice President
Susan M. Crown Independent Director
Pamela B. Strobel Independent Director
David H. B. Smith Independent Director
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