Illinois Tool Works Inc.’s ITW -8.59% second-quarter profit jumped 21% on steady demand from a number of its markets, yet revenue came in short of its expectations.
Citing moderating demand levels, the maker of products from fasteners to food-service and welding equipment called for current quarter per-share earnings from continuing operations of 95 cents to $1.03, below the estimate currently held by analysts polled by Thomson Reuters of $1.06 a share.
via Illinois Tool sales miss target, but profit rises – MarketWatch.