ITW Q2 revenue $3.7B (+43%), EPS $2.45 (+143%), raises full-year guidance

ILLINOIS TOOL WORKS INC

2021-Q2 EPS reported $4.56 revenue$7,220,000,000

Organic revenue grew 37% YoY; all seven segments delivered double-digit organic growth led by Automotive OEM (+84%) and Food Equipment (+46%).
GAAP EPS $2.45 includes $0.35 one-time UK tax benefit; operating margin 24.3%, up 680 bps.
Free cash flow $477M (72% of net income adj. for one-time tax benefit); After-tax ROIC improved to 30.8%.
FY 2021 guidance raised: GAAP EPS $8.55-$8.95, organic growth 11%-13%; expects ~$1B share repurchase in 2021.
Price recovery actions offset raw material cost increases dollar-for-dollar; supply chain headwinds reduced revenue by ~$60M.

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