Manufacturing company Illinois Tool Works (NYSE:ITW) will be reporting results tomorrow morning. Here’s what you need to know.

Illinois Tool Works missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $4.03 billion, down 1.2% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a miss of analysts’ organic revenue estimates.

Is Illinois Tool Works a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Illinois Tool Works’s revenue to be flat year on year at $4.02 billion, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $2.53 per share.

Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 7 downward revisions over the last 30 days (we track 15 analysts). Illinois Tool Works has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Illinois Tool Works’s peers in the general industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Crane delivered year-on-year revenue growth of 12.7%, meeting analysts’ expectations, and John Bean reported revenues up 12.4%, topping estimates by 2.6%. John Bean traded up 17.8% following the results.

Read our full analysis of Crane’s results here and John Bean’s results here.

Investors in the general industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. Illinois Tool Works is down 2% during the same time and is heading into earnings with an average analyst price target of $251.58 (compared to the current share price of $256.87).

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.