---
schema_version: "secwatch.filing_event.v1"
accession: "0000049826-23-000039"
form_type: "8-K"
ticker: "ITW"
cik: "0000049826"
company_name: "ILLINOIS TOOL WORKS INC"
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T19:31:44.583020+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0000049826-23-000039
- form_type: 8-K
- ticker: ITW
- cik: 0000049826
- company_name: ILLINOIS TOOL WORKS INC
- filed_at: 2023-08-01T23:59:59+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/49826/000004982623000039/0000049826-23-000039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49826/000004982623000039/itw-20230801.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000049826-23-000039
- JSON: https://secwatch.observer/filing/0000049826-23-000039.json
- Plain text: https://secwatch.observer/filing/0000049826-23-000039.txt

## Key facts
- Earnings Releases
  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
  source text: ITW is raising its full-year GAAP EPS guidance by $0.10 to $9.55 to $9.95 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/49826/000004982623000039/0000049826-23-000039-index.htm
- Earnings Releases
  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
  source text: 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%
  evidence_url: https://www.sec.gov/Archives/edgar/data/49826/000004982623000039/0000049826-23-000039-index.htm

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