secwatch.observer — SEC 8-K summary
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Issuer:     ILLINOIS TOOL WORKS INC (ITW)
CIK:        0000049826
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0000049826-24-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ITW reports Q4 revenue $4.0B flat, EPS $2.38; FY23 free cash flow record $3.1B; FY24 EPS guidance $10.00-$10.40
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- Q4 revenue $4.0B (flat YoY); organic revenue -0.5%; GAAP EPS $2.38 included $(0.04) Argentina devaluation hit.
- Full year 2023 revenue $16.1B (+1%); operating margin 25.1% (record, +130 bps); GAAP EPS $9.74 (+6% ex-divestiture gains).
- FY2023 free cash flow record $3.1B, up 59% from prior year; 104% conversion to net income.
- 2024 guidance: revenue growth 2-4% (organic 1-3%); operating margin 25.5-26.5%; GAAP EPS $10.00-$10.40; repurchases ~$1.5B.
- Enterprise initiatives contributed 150 bps to Q4 operating margin and 130 bps for full year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49826/000004982624000005/0000049826-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49826/000004982624000005/itw-20240201.htm
  HTML page:      https://secwatch.observer/filing/0000049826-24-000005

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