- Illinois Tool Works (ITW +1.2%) net profit more than halved to $408M from $979M a year earlier, which included the company's divested Decorative Surfaces business.
- The EPS beat was due to strong contributions from ITW's enterprise initiatives as well as improving organic revenue growth.
- Expects Q1 adjusted EPS of $0.93-1.01 and revenue growth of 3-6% from $4.01B in Q1 2013.
- Reiterates 2014 outlook for EPS of $4.30-4.50 and revenue growth of 2-4%.
- Automotive OEM organic revenues +11.2%, Food Equipment +4.2%. (PR)