Illinois Tool Works Backs 2014 EPS View; Initiates 2015 EPS Target - Quick Facts

(RTTNews) - Industrial equipment maker Illinois Tool Works Inc. (ITW) said it would detail progress on it's Enterprise Strategy at its annual investor meeting in New York City. Looking forward, the company would initiate 2015 earnings per share guidance in a range of $5.15 - $5.35 and reiterate its full-year 2014 earnings per share from continuing operations target in a range of $4.57 - $4.65. Analysts polled by Thomson Reuters project the company to earn $4.62 per share for the year 2014, and $5.25 per share for 2015. Analysts' estimates typically exclude special items.

In addition, it is forecasting organic revenues growth of around 2.5 percent in 2014 and in a range of 2.5 percent - 3.5 percent in 2015. The firm would announce an increased 2017 operating margin target of about 23 percent by the end of 2017.

President & Chief Executive, Scott Santi, Vice Chairman, David Parry, and Chief Financial Officer, Michael Larsen, would be the Management participants in the Investor Day.