Illinois Tool Works (ITW)
ITW said its updated forecast assumes a total revenue improvement of 5% to 11% from last quarter and raised its second-quarter earnings forecast by 4 cents a share. But don’t get too excited.
The reason for the increased forecast is that ITW moved its Decorative Surfaces segment back into continuing operations because they couldn’t find a buyer for the segment. It is generally not a good thing to see a company move a business in and out of the Continuing Operations portion of their income statement.
United Technologies (UTX)
UTX reaffirmed its 2009 earnings and revenue outlook and also said it sees free cash flow equal to or in excess of net income, a sign of high earnings quality.
Tomorrow's Afternoon Report will take a closer look at free cash flow and explain its importance to investors.
Peter J. Lazaroff
Monday, June 15, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment