CHICAGO, April 23 Illinois Tool Works Inc
lowered its full-year sales forecast on Tuesday, citing
"softer-than-anticipated demand" for many of its products.
The diversified manufacturer said it now expects organic
sales growth, which excludes the effect of acquisitions, of nil
to 2 percent this year, down from a previous forecast of 3
percent to 5 percent.
ITW also said it now expects full-year earnings from
continuing operations of $4.15 to $4.35 per share. In January it
forecast $4.17 to $4.37. It pointed out that the mid-point of
both estimates was the same: $4.25.
The forecast adjustment came as ITW, which manufactures a
range of automotive, test and measurement, food equipment,
construction, polymers and fluids and other specialty products,
reported a first-quarter profit in line with analysts'