Investing.com - Illinois Tool Works (NYSE:ITW) reported first quarter earnings that beat analysts' expectations on Thursday and revenue that fell short of forecasts.
The firm reported earnings per share of $1.81 on revenue of $3.55B. Analysts polled by Investing.com expected EPS of $1.8 on revenue of $3.63B. That compared to EPS of $1.9 on revenue of $3.74B in the same period a year earlier. The company had reported EPS of $1.83 on revenue of $3.58B in the previous quarter.
Illinois Tool Works shares lost 1.79% to trade at $154.00 in pre-market trade following the report.
For the year, Illinois Tool Works shares are up 23.77%, outperforming the S&P 500 which is up 18.18% year to date.
Illinois Tool Works follows other major Consumer Cyclical sector earnings this month
On Wednesday, Tesla reported first quarter EPS of $-2.9 on revenue of $4.54B, compared to forecasts of EPS of $-0.87 on revenue of $5.46B.
O'Reilly earnings matched analyst's expectations on Wednesday, with first quarter EPS of $4.05 on revenue of $2.41B. Investing.com analysts expected EPS of $4.05 on revenue of $2.44B
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