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Kritika Sarmah

What You Need to Know Ahead of Illinois Tool Works’ Earnings Release

ITW Illinois

Glenview, Illinois-based Illinois Tool Works Inc. (ITW) manufactures and sells industrial products and equipment. Valued at $78.1 billion by market cap, the company provides industrial fluids and adhesives, tooling for specialty applications, welding products, and quality measurement equipment and systems. The industrial products and equipment behemoth is expected to announce its fiscal third-quarter earnings for 2024 before the market opens on Tuesday, Oct. 22. 

Ahead of the event, analysts expect ITW to report a profit of $2.54 per share on a diluted basis, marginally down from $2.55 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. Despite cooling demand, its EPS of $2.54 in the previous quarter exceeded the consensus estimate by 3.7%.

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