By Dave Sebastian

 

Illinois Tool Works Inc. said it raised its earnings guidance for the year as it sees order intake rates in all segments and regions remaining strong.

The Glenview, Ill.-based manufacturing company on Friday said it expects earnings of $8.55 a share to $8.95 a share, up 32% at the midpoint from a year ago. It previously expected $8.20 a share to $8.60 a share.

The company said it expects organic growth of 11% to 13%, compared with its prior outlook of 10% to 12%.

The company said it expects price increases to offset raw-material cost increases.

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

July 30, 2021 08:34 ET (12:34 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Illinois Tool Works (NYSE:ITW)
Historical Stock Chart
From Aug 2021 to Sep 2021 Click Here for more Illinois Tool Works Charts.
Illinois Tool Works (NYSE:ITW)
Historical Stock Chart
From Sep 2020 to Sep 2021 Click Here for more Illinois Tool Works Charts.