Investing.com - Illinois Tool Works (NYSE:ITW) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Illinois Tool Works announced earnings per share of $1.77 on revenue of $3.23B. Analysts polled by Investing.com anticipated EPS of $1.72 on revenue of $3.31B. That with comparison to EPS of $1.81 on revenue of $3.55B in the same period a year before. Illinois Tool Works had reported EPS of $1.88 on revenue of $3.47B in the previous quarter. Analysts are expecting EPS of $1.26 and revenue of $2.75B in the upcoming quarter.
Illinois Tool Works shares are down 11% from the beginning of the year , still down 17.03% from its 52 week high of $190.85 set on February 20. They are outperforming the S&P 500 which is down 12.39% year to date.
Illinois Tool Works follows other major Consumer Cyclical sector earnings this month
Illinois Tool Works's report follows an earnings beat by Tesla on April 29, who reported EPS of $1.24 on revenue of $5.99B, compared to forecasts EPS of $-0.28 on revenue of $6.11B.
Volkswagen 10 Pref ADR had beat expectations on April 29 with first quarter EPS of $0.08 on revenue of $59.75B, compared to forecast for EPS of $0.07 on revenue of $58.53B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar