---
schema_version: "secwatch.filing_event.v1"
accession: "0000049826-23-000022"
form_type: "8-K"
ticker: "ITW"
cik: "0000049826"
company_name: "ILLINOIS TOOL WORKS INC"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T04:02:00.976762+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ITW Q1 GAAP EPS $2.33 (+10% YoY); raises FY guidance by $0.05 to $9.45-$9.85

## Summary
- Revenue $4.0B, organic growth +5%; operating margin 24.2% (+150 bps).
- GAAP EPS $2.33 (+10% YoY), record Q1; free cash flow $615M (+147%).
- FY2023 GAAP EPS guidance raised to $9.45-$9.85 (prior $9.40-$9.80); organic growth view 3-5%.
- Operating margin guidance 24.5-25.5%; plans ~$1.5B in share repurchases for year.
- Effective tax rate 22.6% in Q1; full-year tax rate lowered to 23.5-24%.

## SEC filing metadata
- accession: 0000049826-23-000022
- form_type: 8-K
- ticker: ITW
- cik: 0000049826
- company_name: ILLINOIS TOOL WORKS INC
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49826/000004982623000022/0000049826-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49826/000004982623000022/itw-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000049826-23-000022
- JSON: https://secwatch.observer/filing/0000049826-23-000022.json
- Plain text: https://secwatch.observer/filing/0000049826-23-000022.txt

## Key facts
- Earnings Releases
  ILLINOIS TOOL WORKS INC reported financial results for first quarter 2023.
  - Period: first quarter 2023
  - Result: reported results
  source text: announced its 2023 first quarter results of operations in the press release furnished as Exhibit 99.1.
  evidence_url: https://www.sec.gov/Archives/edgar/data/49826/000004982623000022/0000049826-23-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.