ITW Q2 2023: record operating income $1.01B, GAAP EPS $2.48, raises FY guidance

ILLINOIS TOOL WORKS INC

2023-Q2 EPS reported $4.81 revenue$8,093,000,000

Revenue $4.1B (+2% total, +3% organic); record operating income $1.01B (+9%); margin 24.8% (+170 bps).
GAAP EPS $2.48, up 5%; excluding $0.07 tax benefit, EPS up 9% to $2.41 (Q2 record).
Free cash flow $705M (+68% YoY), conversion 94% of net income; repurchased $375M of shares in Q2.
Raising FY GAAP EPS guidance $0.10 to $9.55-$9.95; organic growth outlook 3%-5%, operating margin 24.5%-25.5%.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ILLINOIS TOOL WORKS INC reported Full Year 2023 results: EPS $9.55 to $9.95 per share. Guidance raised.

Period: Full Year 2023
EPS: $9.55 to $9.95 per share
Guidance: raised
Result: guidance update

Exact text from the filing

ITW is raising its full-year GAAP EPS guidance by $0.10 to $9.55 to $9.95 per share.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

ILLINOIS TOOL WORKS INC reported Second Quarter 2023 results: revenue $4.1 billion, EPS $2.48.

Period: Second Quarter 2023
Revenue: $4.1 billion
EPS: $2.48
Result: reported results

Exact text from the filing

ITW Reports Second Quarter 2023 Results • Revenue of $4.1 billion, an increase of 2% with organic growth of 3% • Record operating income of $1.01 billion, an increase of 9% • Operating margin of 24.8%, an increase of 170 bps • Record GAAP EPS of $2.48, an increase of 5%; Excl. one-time tax items, EPS increased 9%

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Source: SEC EDGAR

accession 0000049826-23-000039

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