ITW Q1: rev $4.0B, organic -0.6%; GAAP EPS $2.73 (ex-item $2.44, +5%); raises FY EPS guide to $10.30-10.70

ILLINOIS TOOL WORKS INC

2024-Q1 EPS reported $2.73 revenue$3,973,000,000

GAAP EPS $2.73 (+17%) includes $0.29 benefit from LIFO-to-FIFO accounting change; ex-item EPS $2.44, +5%.
Operating margin 28.4% (ex-item 25.4%, +120 bps); enterprise initiatives contributed 140 bps.
Organic revenue declined 0.6% to $4.0B; reaffirmed full-year organic growth guidance of 1-3%.
Full-year GAAP EPS guidance raised by $0.30 to $10.30-$10.70; operating margin guidance raised to 26-27%.
Q1 free cash flow $494M (68% conversion to ex-item net income); repurchased $375M shares.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ILLINOIS TOOL WORKS INC reported first quarter 2024 results: revenue $4.0 billion, EPS $2.73. Guidance reaffirmed.

Period: first quarter 2024
Revenue: $4.0 billion
EPS: $2.73
Guidance: reaffirmed
Result: reported results

Exact text from the filing

ITW Reports First Quarter 2024 Results • Revenue of $4.0 billion, organic growth declined (0.6)% as expected

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Source: SEC EDGAR

accession 0000049826-24-000017

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