-logo-1200x675.png?v=20240521153233&w=240&h=240&zc=2){kind=logo}
Why Illinois Tool Works Stock Is Under Pressure Today
Illinois Tool Works (NYSE: ITW) managed to top expectations for the quarter, but tariffs and macroeconomic concerns are weighing on the company.Investors are taking a glass-half-empty approach, sending shares of the diversified manufacturer down 4% as of 10:30 a.m. ET on Wednesday.Illinois Tool Works (ITW) earned $2.44 per share in the quarter on $3.8 billion in sales, topping the $2.35 per share consensus Wall Street estimate but falling about $40 million short on revenue. Sales were down 3.4% year over year, due to a combination of foreign currency fluctuations and tepid demand in some end markets.Continue reading
Illinois Tool Works (NYSE: ITW) managed to top expectations for the quarter, but tariffs and macroeconomic concerns are weighing on the company.
Investors are taking a glass-half-empty approach, sending shares of the diversified manufacturer down 4% as of 10:30 a.m. ET on Wednesday.
Illinois Tool Works (ITW) earned $2.44 per share in the quarter on $3.8 billion in sales, topping the $2.35 per share consensus Wall Street estimate but falling about $40 million short on revenue. Sales were down 3.4% year over year, due to a combination of foreign currency fluctuations and tepid demand in some end markets.
