ITW Modifies Guidance for Fiscal 2012
Illinois Tool Works has adjusted its forecasts for this year, the company revealed in a presentation for its annual investor meeting. For 2012, the company anticipates it will post non-GAAP EPS of $5.19-$5.29, up from the previous estimate of $4.06-$4.14. This is largely due to the financial impact arising from the November sale of its Decorative Surfaces division.
Also, 4Q will also be affected by the sale. ITW is now expecting EPS of $1.99-$2.09, rather than the previous guidance of $0.86-$0.94.
In 2013, however, the company anticipates that organic revenue will grow only 1%-3% on an annual basis.
The article ITW Modifies Guidance for Fiscal 2012 originally appeared on Fool.com.Eric Volkman has no positions in Illinois Tool Works. The Motley Fool has no positions in Illinois Tool Works. Motley Fool newsletter services recommend Illinois Tool Works. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.