Illinois Tool Works Half-Year Report 2022

  • Revenue of $4.1 billion, an increase of 2% with organic growth of 3%
  • Record operating income of $1.01 billion, an increase of 9%
  • Operating margin of 24.8%, an increase of 170 bps
  • Record GAAP EPS of $2.48, an increase of 5%; Excl. one-time tax items, EPS increased 9%
  • Raising full year GAAP EPS guidance by $0.10 to a range of $9.55 to $9.95 per share

Second Quarter 2023 Results

Second quarter revenue of $4.1 billion increased two percent with organic revenue growth of three percent, as divestitures reduced revenue by one percent. GAAP EPS increased five percent to $2.48 and included $0.07 of a one-time tax benefit. GAAP EPS of $2.37 in the second quarter of 2022 included a $0.16 one-time tax benefit. Excluding one-time tax items in both periods, EPS increased nine percent. Operating income grew nine percent to a record $1.01 billion. Operating margin of 24.8 percent improved 170 basis points as enterprise initiatives contributed 130 basis points. Operating cash flow was $790 million, and free cash flow was $705 million, an increase of 68 percent,with a conversion rate to net income of 94 percent. The company repurchased $375 million of its own shares and the effective tax rate was 21.4 percent.

Free Trial

Step 1 of 2

Name(Required)

By pressing “Send” you agree to the Privacy Policy of this site

No Credit Card needed, after filling up the form you will receive your Free-Trial login information in 24 to 48 hours by e-mail.

ImprintPrivacy Policy

All Rights Reserved © aicorite.com