Illinois Tool Works -ITW Half-Year Report 2024

“While the demand environment continued to moderate across our portfolio, we delivered a solid quarter with strong operational execution and profitability,” said Christopher A. O’Herlihy, President and Chief Executive Officer. “Our ability to overcome near-term macro challenges and expand our margin and profitability to record levels as evidenced by margin improvement of 140 basis points to 26.2 percent and EPS growth of more than five percent, is a direct result of the focused execution by our team of dedicated ITW professionals around the world.” O’Herlihy concluded. 

Highlights

  • Revenue of $4.0 billion, a decrease of 1% with flat organic growth
  • Operating income of $1.05 billion, an increase of 4.5%
  • Operating margin of 26.2%, an increase of 140 bps as enterprise initiatives contributed 140 bps
  • GAAP EPS of $2.54, an increase of 2%; Excl. a one-time 2023 tax item, EPS increased 5%
  • Narrowing full year GAAP EPS guidance to a range of $10.30 to $10.40 per share 

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