Illinois Tool Works Raises 2018 Guidance -- Earnings Review

By Cara LombardoFeaturesDow Jones Newswires

Illinois Tool Works Inc. (ITW) reported its fourth-quarter earnings Wednesday. Here's what you need to know:

EARNINGS: Illinois Tool Works reported a loss of $76 million, or 22 cents a share. But excluding the impact of one-time items such as charges related to the new U.S. tax law, the bank earned $1.70 a share. That is more than the $1.61 in adjusted earnings per share analysts polled by Thomson Reuters had expected.

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REVENUE: Revenue increased 7% to $3.63 billion, just over the $3.5 billion analysts expected.

TAX CHARGE: The manufacturer's results included a $658 million one-time charge related to the tax overhaul. The charge includes both a repatriation tax on overseas earnings and a revaluation of deferred tax assets and liabilities.

GUIDANCE: The company raised its 2018 EPS guidance to a range of $7.45 to $7.65. It also said it will accelerate previously announced plans to increase its dividend payout ratio.

Write to Cara Lombardo at cara.lombardo@wsj.com

(END) Dow Jones Newswires

January 24, 2018 08:36 ET (13:36 GMT)