UPDATE 1-ITW raises full-year outlook, cites global markets

* Raises full-year profit from continuing ops forecast

* Cites improvement in “many” markets

* New guidance comes as Q1 earnings come in as forecast

CHICAGO, April 20 (BestGrowthStock) – Illinois Tool Works Inc
(ITW.N: ) raised its full-year earnings outlook on Tuesday,
saying it was encouraged by the ongoing improvement in many of
its global markets.

“We have a growing sense of optimism that the business
environment will continue to improve as the year progresses,”
the company said in a statement.

ITW said it now expects to report full-year diluted income
per share from continuing operations in a range of $2.72 to
$3.08, up from a previous forecast of $2.39 to $2.89 a share
provided to investors just three weeks ago.

The raised forecast came as ITW reported diluted income per
share from continuing operations of $294 million, or 58 cents a
share, compared with a loss of $8.1 million, or 2 cents a share
last year.

Sales rose 14.6 percent to $3.6 billion.

Analysts, on average, expected Glenview, Illinois-based ITW
to report a profit of 57 cents a share on sales of $3.6
billion, according to Thomson Reuters I/B/E/S.

Stock Today

(Reporting by James B. Kelleher, editing by Dave
Zimmerman)

UPDATE 1-ITW raises full-year outlook, cites global markets