secwatch.observer — SEC 8-K summary
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Issuer:     ILLINOIS TOOL WORKS INC (ITW)
CIK:        0000049826
Form:       8-K
Filed at:   2022-08-02T23:59:59+00:00
Accession:  0000049826-22-000043
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ITW Q2 revenue $4.0B, organic +10%; GAAP EPS $2.37; maintains FY2022 guidance $9.00-$9.40 EPS
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- Revenue of $4.0B, organic growth 10%; six of seven segments positive led by Food Equipment +25%, Welding +22%.
- GAAP EPS $2.37 including $(0.15) from FX and higher restructuring; prior-year $2.45 included $0.35 tax benefit.
- Operating margin 23.1%; adjusted 24.1% excluding MTS and restructuring; price/cost dilution moderated to (160) bps from (250) bps.
- Operating cash flow $501M; free cash flow $420M (57% conversion). Maintains FY guidance: organic growth 7-10%, EPS $9.00-$9.40.
- Tax rate 18.3% reported; effective 23.9% ex one-time benefit. On pace to repurchase $1.5B shares in 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49826/000004982622000043/0000049826-22-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49826/000004982622000043/itw-20220802.htm
  HTML page:      https://secwatch.observer/filing/0000049826-22-000043

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