Illinois Tool Works Earnings Cheat Sheet: Hot Quarter On All Cylinders

S&P 500 (NYSE:SPY) component Illinois Tool Works Inc. (NYSE:ITW) reported net income above Wall Street’s expectations for the first quarter. Illinois Tool Works Inc. manufactures a range of industrial products and equipment for the automotive, construction, electronics, food/beverage, packaging, power system, decorative surfaces, and medical industries.

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Illinois Tool Works Earnings Cheat Sheet for the First Quarter

Results: Net income for the diversified machinery company rose to $623.1 million ($1.24/share) vs. $333.8 million (66 cents/share) in the same quarter a year earlier.

Revenue: Rose 17.4% to $4.39 billion YoY.

Actual vs. Wall St. Expectations: ITW beat the mean analyst estimate of 84 cents/share. Estimates ranged from 81 cents per share to 86 cents per share.

Quoting Management: “We were extremely pleased with our strong financial performance in the 2011 first quarter,” said David B. Speer, chairman and chief executive officer. “Our total revenue increase of 17 percent was driven by double-digit organic growth, underlying both the strength in many of our worldwide end markets and our ongoing market penetration gains. We believe that most of our end markets will remain relatively strong throughout the remainder of 2011.”

Key Stats:

The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 17.7%, with the biggest boost coming in the first quarter of the last fiscal year when revenue rose 23.7% from the year earlier quarter.

Competitors to Watch: Dover Corporation (NYSE:DOV), Nordson Corporation (NASDAQ:NDSN), Entegris, Inc. (NASDAQ:ENTG), Graco Inc. (NYSE:GGG), Flow International Corp. (NASDAQ:FLOW), 3M Company (NYSE:MMM), Myers Industries, Inc. (NYSE:MYE), Taylor Devices, Inc. (NASDAQ:TAYD), Core Molding Tech., Inc. (AMEX:CMT), Hurco (NASDAQ:HURC), Danaher (NYSE:DHR) and Pall Corporation (NYSE:PLL).

Today’s Performance: Shares of ITW are trading at $57.83 as of April 26, 2011 at 3:09 PM ET, up 6.3% from the previous close.


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