By Paulo Trevisani


Illinois Tool Works Inc. said Tuesday it expects foreign currency rates to continue to hurt results this year.

The Glenview, Ill., maker of industrial equipment said FX is expected to reduce revenue by 1.5% this year, as the company raised its revenue growth guidance to between 8.5% and 11.5% from the previous forecast range of 7.5% to 10.5%.

The company reported earnings of $2.11 a share in the first quarter, including a negative impact from FX of five cents a share.

It also said that currency translations reduced first-quarter revenue by 2.2%.


Write to Paulo Trevisani at paulo.trevisani@wsj.com


(END) Dow Jones Newswires

05-03-22 1016ET