Illinois Tool Works profit more than doubles to beat expectations, but stock falls

Illinois Tool Works profit more than doubles to beat expectations, but stock falls
·1 min read

Illinois Tool Works Inc. reported second-quarter that more than doubled and beat expectations, and raised the full-year outlook, as the all business segments saw double-digit organic revenue growth in the face of rising raw materials costs and supply chain challenges. Meanwhile, the industrial products and equipment maker's stock fell 1.5% in premarket trading. Net income rose to $775 million, or $2.45 a share, from $319 million, or $1.01 a share, in the year-ago period. The FactSet consensus fo

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