secwatch.observer — SEC 8-K summary
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Issuer:     ILLINOIS TOOL WORKS INC (ITW)
CIK:        0000049826
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0000049826-23-000039
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49826/000004982623000039/0000049826-23-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49826/000004982623000039/itw-20230801.htm
  HTML page:      https://secwatch.observer/filing/0000049826-23-000039

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