Illinois Tool Works (NYSE: ITW) reported earnings on July 24. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Illinois Tool Works missed estimates on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded slightly and GAAP earnings per share increased significantly.

Margins improved across the board.

Revenue details
 Illinois Tool Works reported revenue of $4.66 billion. The 11 analysts polled by S&P Capital IQ foresaw a top line of $4.85 billion on the same basis. GAAP reported sales were 0.9% higher than the prior-year quarter's $4.61 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $1.11. The 17 earnings estimates compiled by S&P Capital IQ averaged $1.10 per share. GAAP EPS of $1.85 for Q2 were 87% higher than the prior-year quarter's $0.99 per share. (The prior-year quarter included $0.03 per share in earnings from discontinued operations.)

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 36.3%, 120 basis points better than the prior-year quarter. Operating margin was 16.5%, 110 basis points better than the prior-year quarter. Net margin was 18.9%, 810 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $4.76 billion. On the bottom line, the average EPS estimate is $1.09.

Next year's average estimate for revenue is $18.65 billion. The average EPS estimate is $4.18.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 760 members out of 785 rating the stock outperform, and 25 members rating it underperform. Among 233 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 228 give Illinois Tool Works a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Illinois Tool Works is hold, with an average price target of $61.13.

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