Illinois Tool Works Inc Q1 Profit Retreats

(RTTNews) - Illinois Tool Works Inc (ITW) released earnings for first quarter that dropped from the same period last year.

The company's profit came in at $566 million, or $1.77 per share. This compares with $597 million, or $1.81 per share, in last year's first quarter.

Analysts had expected the company to earn $1.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.0% to $3.23 billion from $3.55 billion last year.

Illinois Tool Works Inc earnings at a glance:

-Earnings (Q1): $566 Mln. vs. $597 Mln. last year. -EPS (Q1): $1.77 vs. $1.81 last year. -Analysts Estimate: $1.71 -Revenue (Q1): $3.23 Bln vs. $3.55 Bln last year.