Reuters | Diversified U.S. manufacturer Illinois Tool Works Inc raised the mid-point of its second-quarter earnings forecast Tuesday, citing “increasing demand across a broad set” of its customers inside and outside of North America.

The Glenview-based company said it now expects earnings from continuing
operations to be in the range of 80 to 86 cents a share, up from a
previous forecast of 74 to 86 cents. That raised the midpoint of the
company’s EPS forecast to 83 cents from 80 cents.

Analysts, on average, have expected the company to report earnings of 81 cents a share, according to Thomson Reuters I/B/E/S.

News of the raised forecast came as Illinois Tool reported that its
revenue grew 21 percent during the three months ended May 31, lifted by
a 15 percent growth in base revenue to revenue growth and a 6 percent
rise in acquisition and currency related revenues.