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Illinois Tool Works (ITW) is expected to report Q1 earnings on Tuesday, April 26 before the market open with a conference call scheduled for 10:00 am ET.

Guidance

Analysts are looking for EPS of 84c on revenue of $4.18B. The consensus range is 81c-86c for EPS, and $4.04B-$4.37B for revenue, according to First Call. The company reported mixed results in Q4, narrowly missing EPS but beating revenue estimates. The stock has traded sideways since then, moving in a narrow range. The shares are up approximately 33% since making a 52-week low in August of last year. In January, the company forecast Q1 revenue growth of 12%-15% and FY11 revenue growth of 11.5%-14.5%. Recent sentiment on the street has been mixed, with several upgrades and downgrades on the shares. With a 33% upside move in less than a year, the stock currently sits near three-year highs. As such, investors may need a large upside surprise in Q1 earnings to push the shares higher.

Source: Earnings Preview: Illinois Tool Works