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Illinois Tool Works 4Q Revenue, Earnings Nearly Flat

By Matt Grossman

 

Illinois Tool Works Inc. on Friday posted slight upticks in revenue and earnings figures in the latest quarter, as foreign-exchange factors helped offset a small organic decline.

The Glenview, Ill.-based industrial manufacturer logged earnings of $2.02 a share, up from $1.99 a share in the year-ago quarter. Net income was $642 million, compared with $641 million a year earlier.

Analysts surveyed by FactSet were expecting a profit of $1.77 a share.

Revenue was $3.48 billion, compared with $3.47 billion in the year-ago quarter. Analysts had forecast revenue of $3.32 billion. Revenue declined by 0.9% organically, but sales were helped by favorable foreign-currency translation.

Selling, administrative and research-and-development expenses declined to $557 million, from $586 million in the year-ago quarter. The company's operating margin was 25.4%.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

February 05, 2021 08:30 ET (13:30 GMT)

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