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Illinois Tool Works sets 2019 guidance ahead of investor day

Illinois Tool Works Inc. set guidance for 2019 on Friday in a release provided ahead of its annual investor day. “We are in the midst of executing a focused and disciplined plan to leverage ITW’s powerful proprietary business model and diversified, high quality business portfolio to their full potential,” Chief Executive E. Scott Santi said in the release. The company is expecting GAAP 2019 EPS to range from $7.90 to $8.20 and for operating margins to improve by about 100 basis points. The company is still expecting 2018 GAAP EPS of $7.55 to $7.65. The FactSet consensus is for 2018 EPS of $7.60 and 2019 EPS of $8.11. Shares were slightly lower premarket, and have fallen 20% in 2018, while the S&P 500 has gained 0.8%.

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