Illinois Tool Works Cuts 2021 Earnings Guidance on Auto-Production Levels
October 28 2021 - 8:51AM
Dow Jones News
By Dave Sebastian
Illinois Tool Works Inc. said it lowered its earnings guidance
for 2021 due to actual and anticipated lower auto-production levels
in the third and fourth quarters versus prior guidance.
The Glenview, Ill.-based manufacturing company on Thursday said
it expects earnings of $8.30 a share to $8.50 a share, compared
with its prior outlook of $8.55 a share to $8.95 a share.
Illinois Tool Works said it expects price to offset raw-material
cost increases.
The company said it sees revenue growth of 13% to 14% and
organic growth of 11% to 12%. It previously expected organic growth
of 11% to 13%.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 28, 2021 08:36 ET (12:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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