Illinois Tool Works Confirms 2013 EPS View - Quick Facts

(RTTNews) - Industrial equipment maker Illinois Tool Works Inc. (ITW) announced Friday that it will detail progress on its Enterprise Strategy at its annual investor/analyst meeting in New York City. During the meeting, the company will confirm its 2013 full-year earnings per share from continuing operations guidance range of $3.56 to $3.64 and introduce a 2014 earnings per share guidance range of $4.30 to $4.50.

Analysts polled by Thomson Reuters expect the company to report earnings of $3.62 per share for fiscal 2013, and $4.46 per share for fiscal 2014. Analysts' estimates typically exclude special items.

The company forecasts organic revenues to grow in a range of 2 percent to 3 percent in 2014. It also forecasts operating margins of approximately 19 percent for full-year 2014.

President and Chief Executive Officer Scott Santi said, "We are pleased with the progress we have made in 2013, which is year one of our five-year plan. In addition, the Company is well positioned to continue to deliver strong performance in 2014 as reflected by our full-year guidance projecting earnings per share growth in a range of 19 percent to 25 percent versus 2013."

The company said that the Investor Day presentation will begin at 9:00 a.m. ET and will conclude at 12:00 p.m. ET.