Illinois Tool Works Inc reported improved quarterly earnings Tuesday, lifted by strong demand for its welding and packaging products from manufacturers. Illinois Tool reported a third-quarter profit of $419.3 million, or 83 cents a share, up from $302.4 million, or 60 cents a share, a year before.
Sales at the company, which makes everything from industrial fasteners and adhesives to professional kitchen equipment and flooring, rose 12 percent to $4.02 billion.
Analysts, on average, had expected the Glenview, Illinois-based company to report a profit of 82 cents a share on sales of $4 billion, according to Thomson Reuters I/B/E/S.
