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.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks