Illinois Tool Works 3Q Net Income, Revenue Higher
By Denny Jacob
Illinois Tool Works posted higher top- and bottom-line results in the latest quarter.
The manufacturing company logged net income of $772 million, or $2.55 a share, for the third quarter ended Sept. 30, up from $727 million, or $2.35 a share, a year earlier. Analysts polled by FactSet had expected earnings of $2.46 a share.
Operating revenue edged up to $4.03 billion from $4.01 billion a year ago. Analysts polled by FactSet had expected $4.01 billion.
Chief Executive Scott Santi said while the company expects some impact from ongoing automotive industry labor actions on its automotive OEM segment in the fourth quarter, it anticipates another strong year of performance in 2023.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
October 24, 2023 08:45 ET (12:45 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations