Management to Update Progress on Company's Five-Year Enterprise Strategy at
Annual Investor and Analyst Meeting in New York City
- Company confirms 2013 EPS guidance range of $3.56 to $3.64
- Company forecasts 2014 EPS guidance range of $4.30 to $4.50; mid-point
represents 22 percent growth
GLENVIEW, Ill., Dec. 6, 2013
GLENVIEW, Ill., Dec. 6, 2013 /PRNewswire/ --Illinois Tool Works Inc. (NYSE:
ITW) today will detail progress on the Company's Enterprise Strategy at its
annual investor/analyst meeting in New York City. During the meeting, the
Company will confirm its 2013 full-year diluted earnings per share from
continuing operations guidance range of $3.56 to $3.64 and introduce a 2014
diluted earnings per share (EPS) guidance range of $4.30 to $4.50. The Company
is forecasting organic revenues to grow in a range of 2 percent to 3 percent
Key management participants in the Investor Day will include President and
Chief Executive Officer Scott Santi; Vice Chairman David Parry; and Chief
Financial Officer Michael Larsen.
"At our Annual Investor and Analyst Meeting last year we outlined our
2012-2017 enterprise strategy that focuses the company on delivering solid
growth with strong returns and best-in-class operating performance for our
shareholders," said Mr. Santi. "We are pleased with the progress we have made
in 2013, which is year one of our five-year plan. In addition, the Company is
well positioned to continue to deliver strong performance in 2014 as reflected
by our full-year guidance projecting earnings per share growth in a range of
19 percent to 25 percent versus 2013. The Company also is forecasting
operating margins of approximately 19 percent for full-year 2014."
The Investor Day presentation will begin at 9:00 a.m. ET and will conclude at
12:00 p.m. ET. The Company's webcast, featuring a synchronized slide show of
management presentations, can be accessed via its website at
www.itw.com.Interested participants should then access the investor
information tab. The webcast replay will be available through midnight on
January 10, 2014.
The remarks made by ITW representatives at this meeting contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 including, without limitation, statements
regarding the expected impact and timing of strategic initiatives and related
benefits, operating income and organic revenue growth, growth in operating
margins and return on invested capital, the macro-economic environment,
earnings per share, free operating cash flow, restructuring expenses and
related benefits, exchange rates, the timing and impact of additional
leverage, the timing and amount of share repurchases, and the Company's
related forecasts. Forward-looking statements may be identified by the use of
words such as "believe," "expect," "plans," "intends," "strategy,"
"prospects," "estimate," "project," "target," "anticipate," "guidance," and
other similar words, and are subject to certain risks, uncertainties, and
other factors which could cause actual results to differ materially from those
anticipated. Important risks that could cause actual results to differ
materially from the Company's expectations include those that are detailed in
ITW's Form 10-K for 2012 and Form 10-Q for the third quarter of 2013.
ITW is a Fortune 200 global diversified industrial manufacturer of value added
consumables and specialty equipment with related service businesses. The
Company focuses on solid growth and strong returns across its worldwide
platforms and businesses. These businesses serve local customers and markets
around the globe, with a significant presence in developed as well as emerging
markets. ITW's adjusted revenues totaled $13.9 billion in 2012, with
approximately half of the revenues generated outside of the United States.
The Company will be using certain non-GAAP measures in talking about our
performance. Refer to the appendix of the management presentation at the
Company's website under the "Investor Relations" tab for additional
information on these non-GAAP measures.
SOURCE Illinois Tool Works Inc.
Contact: John L. Brooklier, +1-847-657-4104, email@example.com
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