secwatch.observer — SEC 8-K summary
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Issuer:     ILLINOIS TOOL WORKS INC (ITW)
CIK:        0000049826
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0000049826-23-000022
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49826/000004982623000022/0000049826-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49826/000004982623000022/itw-20230502.htm
  HTML page:      https://secwatch.observer/filing/0000049826-23-000022

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer