GLENVIEW, Ill. (AP) — GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. (ITW) on Thursday reported fourth-quarter earnings of $717 million.

The Glenview, Illinois-based company said it had profit of $2.38 per share. Earnings, adjusted for non-recurring costs, were $2.42 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.40 per share.

The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.98 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $4.01 billion.

For the year, the company reported profit of $2.96 billion, or $9.74 per share. Revenue was reported as $16.11 billion.

Illinois Tool Works expects full-year earnings to be $10 to $10.40 per share.

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