---
schema_version: "secwatch.filing_event.v1"
accession: "0000049826-23-000050"
form_type: "8-K"
ticker: "ITW"
cik: "0000049826"
company_name: "ILLINOIS TOOL WORKS INC"
filed_at: "2023-10-24T23:59:59+00:00"
generated_at: "2026-06-09T15:02:49.719764+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000049826-23-000050
- form_type: 8-K
- ticker: ITW
- cik: 0000049826
- company_name: ILLINOIS TOOL WORKS INC
- filed_at: 2023-10-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49826/000004982623000050/0000049826-23-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49826/000004982623000050/itw-20231024.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000049826-23-000050
- JSON: https://secwatch.observer/filing/0000049826-23-000050.json
- Plain text: https://secwatch.observer/filing/0000049826-23-000050.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/49826/000004982623000050/0000049826-23-000050-index.htm

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