Illinois Tool Works Inc.
) is slated to release its third quarter 2012 results on Tuesday,
October 23. The current Zacks Consensus Estimate for earnings per
share (EPS) is $1.06, representing an annualized growth of
Illinois Tool did well in the last four trailing quarters as far
as its performance is concerned in relation to the Zacks
Consensus Estimate, measured in terms of earnings surprise.
Although not by a wide margin, the company outdid the Zacks
Consensus Estimate in all four trailing quarters, with an average
earnings surprise of 1.8%.
Second Quarter Recap
Illinois Tool Works reported upbeat second quarter 2012 financial
results on July 24. Earnings per share from continuing operations
came in at $1.11, up 16% year over year and above the Zacks
Consensus Estimate of $1.09.
Operating revenue increased marginally by 0.9% to $4,655
million, but failed to surpass the Zacks Consensus Estimate of
$4,861 million. The meager improvement in revenue was far behind
management's projected growth range of 3.5%-6.0%.
For further details follow the link: ITW Beats, Revises
COOPER INDS PLC (CBE): Free Stock Analysis
GENL ELECTRIC (GE): Free Stock Analysis
ILL TOOL WORKS (ITW): Free Stock Analysis
MANITOWOC INC (MTW): Free Stock Analysis
To read this article on Zacks.com click here.
Agreement/Magnitude of Estimate Revisions
In the last 30 days, of the total 15 estimates, one was raised
while another was lowered for the third quarter 2012. Despite
revisions, lack of magnitude kept the estimate stable at $1.06
for the quarter.
For 2012, two of the total 17 estimates were lowered, resulting
in the fall of a cent in the Zacks Consensus Estimate to $4.11 in
the last 30 days. Similar trend was noticed for 2013, as 3 of the
total 17 estimates were lowered, leading to a 3 cent fall in the
estimate to $4.48.
Results in the third quarter 2012 are expected to be lower on a
sequential basis; compared with the Zacks Consensus Estimate, it
is expected to fall behind by 0.94%. Management expects earnings
for third quarter to be within the $1.03-$1.11 range based on
total revenue growth assumption of (1%)-1%.
Most of the negative revisions in estimates take into account
sluggish demand, higher negative currency translation impact and
$100 million of restructuring charges. Management also revised
down its revenue growth estimate from the 5%-7% range earlier to
the 1%-3% range for 2012. Similarly, earnings per share guidance
range were lowered from $4.14-$4.38 to $4.03-$4.19 per share
Illinois Tool Works is one of the leading manufacturers of
industrial products and equipment. The company faces stiff
competitions from its peers including
Cooper Industries plc
General Electric Co.
Manitowoc Co. Inc.