Illinois Tool Works Sees FY21 Profit In Line With View

(RTTNews) - Illinois Tool Works Inc. (ITW) said that it expects earnings per share for fiscal year 2021 to be in a range of $7.60 to $8.00 per share, an increase of 15 to 21 percent. It projects annual organic growth to be in the range of seven to ten percent. Analysts polled by Thomson Reuters expect the company to report earnings of $7.68 per share for fiscal year 2021. Analysts' estimates typically exclude special items. Annual revenue is expected to grow in the range of nine to twelve percent as foreign currency translation at current exchange rates is projected to increase revenues by approximately two percent.

The company plans to repurchase approximately $1 billion of its shares in 2021.