Illinois Tool Works (ITW) Q1 Earnings Preview: What You Should Know Beyond the Headline Estimates

In its upcoming report, Illinois Tool Works (ITW) is predicted by Wall Street analysts to post quarterly earnings of $2.35 per share, reflecting an increase of 0.9% compared to the same period last year. Revenues are forecasted to be $4.02 billion, representing no change year over year.

Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

Given this perspective, it's time to examine the average forecasts of specific Illinois Tool Works metrics that are routinely monitored and predicted by Wall Street analysts.

The collective assessment of analysts points to an estimated 'Operating Revenues- Test & Measurement and Electronics' of $705.82 million. The estimate indicates a year-over-year change of +0.4%.

The combined assessment of analysts suggests that 'Operating Revenues- Construction Products' will likely reach $498.12 million. The estimate indicates a change of -5.3% from the prior-year quarter.

The consensus among analysts is that 'Operating Revenues- Food Equipment' will reach $659.11 million. The estimate indicates a change of +3.8% from the prior-year quarter.

Analysts predict that the 'Operating Revenues- Specialty Products' will reach $408.26 million. The estimate suggests a change of -3.5% year over year.

Analysts expect 'Operating Revenues- Automotive OEM' to come in at $823.66 million. The estimate suggests a change of +3.5% year over year.

Based on the collective assessment of analysts, 'Operating Revenues- Welding' should arrive at $490.61 million. The estimate indicates a year-over-year change of -0.5%.

The consensus estimate for 'Operating Revenues- Polymers & Fluids' stands at $443.99 million. The estimate indicates a year-over-year change of -0.7%.

It is projected by analysts that the 'Operating Revenue - Organic growth - Total ITW' will reach -0.8%. Compared to the present estimate, the company reported 5.2% in the same quarter last year.

Analysts forecast 'Operating Revenue - Test & Measurement and Electronics - Organic growth' to reach -1.4%. Compared to the present estimate, the company reported 5.6% in the same quarter last year.

Analysts' assessment points toward 'Operating Revenue - Automotive OEM - Organic growth' reaching 2.5%. The estimate is in contrast to the year-ago figure of 7.9%.

According to the collective judgment of analysts, 'Operating Revenue - Food Equipment - Organic growth' should come in at 2.0%. Compared to the present estimate, the company reported 16% in the same quarter last year.

The average prediction of analysts places 'Operating Revenue - Welding - Organic growth' at -1.5%. Compared to the present estimate, the company reported 10.2% in the same quarter last year.

View all Key Company Metrics for Illinois Tool Works here>>>

Shares of Illinois Tool Works have experienced a change of -6.1% in the past month compared to the -3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), ITW is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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