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GLENVIEW, Ill. (AP) _ Illinois Tool Works Inc. (ITW) on Thursday reported fourth-quarter profit of $907 million.
The Glenview, Illinois-based company said it had net income of $2.95 per share. Earnings, adjusted for non-recurring gains, came to $2.34 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.60 per share.
The equipment manufacturer for the transportation, power, food and construction industries posted revenue of $3.97 billion in the period, surpassing Street forecasts. Seven analysts surveyed by Zacks expected $3.87 billion.
For the year, the company reported profit of $3.03 billion, or $9.77 per share. Revenue was reported as $15.93 billion.
Illinois Tool Works expects full-year earnings to be $9.40 to $9.80 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ITW">Zacks stock report on ITW at https://www.zacks.com/ap/ITW