ITW Q3 GAAP EPS $2.55 (+9%), revenue $4.0B (+0.5%); narrows FY EPS guidance to $9.65-$9.85

ILLINOIS TOOL WORKS INC

2023-Q3 EPS reported $7.36 revenue$12,124,000,000

Revenue $4.0B (+0.5%); organic growth 0.2% (2% on equal days basis). Operating margin 26.5% (+200 bps).
GAAP EPS $2.55 (+9%); effective tax rate 23.8%. Enterprise initiatives added 140 bps to margin.
Free cash flow $856M (+40%), conversion rate 111% of net income. Dividend raised 7% to annualized $5.60/share.
Narrows FY 2023 GAAP EPS guidance to $9.65-$9.85 (from $9.55-$9.95); includes $0.12 hit from auto labor actions.
Projected FY organic growth 2-3%; operating margin 25-25.5%; plans ~$1.5B in share repurchases.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ILLINOIS TOOL WORKS INC reported third quarter 2023 results: revenue $4.0 billion, EPS $2.55. Guidance reaffirmed.

Period: third quarter 2023
Revenue: $4.0 billion
EPS: $2.55
Guidance: reaffirmed
Result: reported results

Exact text from the filing

ITW Reports Third Quarter 2023 Results • Revenue of $4.0 billion, an increase of 0.5% • Operating income of $1.1 billion, an increase of 9% • Operating margin of 26.5%, an increase of 200 bps • GAAP EPS of $2.55, an increase of 9% • Narrowing full year GAAP EPS guidance range to $9.65 to $9.85 per share

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Source: SEC EDGAR

accession 0000049826-23-000050

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