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Here's What Key Metrics Tell Us About Illinois Tool Works (ITW) Q1 Earnings

Zacks Equity Research
·3 min read

For the quarter ended March 2023, Illinois Tool Works (ITW) reported revenue of $4.02 billion, up 2% over the same period last year. EPS came in at $2.33, compared to $2.11 in the year-ago quarter.

The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $3.96 billion. With the consensus EPS estimate being $2.18, the EPS surprise was +6.88%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Illinois Tool Works performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Operating Revenue - Organic growth - Total ITW: 5.2% compared to the 3.63% average estimate based on four analysts.

  • Operating Revenue - Automotive OEM - Organic growth: 7.9% versus 4.09% estimated by three analysts on average.

  • Operating Revenue - Specialty Products - Organic growth: -5% compared to the -1.99% average estimate based on three analysts.

  • Operating Revenue - Food Equipment - Organic growth: 16% compared to the 9.96% average estimate based on three analysts.

  • Operating Revenues- Test & Measurement and Electronics: $703 million versus the five-analyst average estimate of $698.10 million. The reported number represents a year-over-year change of +2.6%.

  • Operating Revenues- Construction Products: $526 million versus the five-analyst average estimate of $518.29 million. The reported number represents a year-over-year change of -4.5%.

  • Operating Revenues- Food Equipment: $635 million compared to the $601.96 million average estimate based on five analysts. The reported number represents a change of +12.2% year over year.

  • Operating Revenues- Specialty Products: $423 million compared to the $444 million average estimate based on five analysts. The reported number represents a change of -6.4% year over year.

  • Operating Revenues- Intersegment revenues: -$4 million compared to the -$5.86 million average estimate based on five analysts. The reported number represents a change of -33.3% year over year.

  • Operating Revenues- Automotive OEM: $796 million compared to the $772.80 million average estimate based on five analysts. The reported number represents a change of +4.7% year over year.

  • Operating Revenues- Welding: $493 million versus the five-analyst average estimate of $478.24 million. The reported number represents a year-over-year change of +9.6%.

  • Operating Revenues- Polymers & Fluids: $447 million versus the five-analyst average estimate of $465.65 million. The reported number represents a year-over-year change of -7.1%.

View all Key Company Metrics for Illinois Tool Works here>>>

Shares of Illinois Tool Works have returned +0.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research