Illinois Tool Works Sees 2019 EPS In Line With View

(RTTNews) - Illinois Tool Works Inc. (ITW) said that it expects 2019 GAAP earnings per share to be in the range of $7.90 to $8.20, organic revenue growth of 2 to 4 percent, and operating margin improvement of approximately 100 basis points. Analysts polled by Thomson Reuters expect the company to report earnings of $8.12 per share for fiscal year 2019. Analysts' estimates typically exclude special items.

The company will also reaffirmed its 2018 full-year GAAP earnings per share guidance to a range of $7.55 to $7.65, a year-over-year increase of 15% at the mid-point. Analysts expect annual earnings of $7.60 per share.

"We are in the midst of executing a focused and disciplined plan to leverage ITW's powerful proprietary business model and diversified, high quality business portfolio to their full potential," said E. Scott Santi, Chairman and CEO. "In doing so, we are strongly positioning the company to deliver continued top-tier performance for many years to come."