secwatch.observer — SEC 8-K summary
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Issuer:     ILLINOIS TOOL WORKS INC (ITW)
CIK:        0000049826
Form:       8-K
Filed at:   2024-07-30T23:59:59+00:00
Accession:  0000049826-24-000034
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ITW Q2 operating margin 26.2% (record), revenue -1%, EPS $2.54; narrows FY EPS guidance to $10.30-$10.40
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- Revenue $4.0B (-1.2% yoy); organic growth flat (-0.1%), FX -1.2%, acquisitions +0.1%.
- GAAP EPS $2.54 (+2.4%); excluding one-time 2023 tax item, EPS up 5.4%.
- Operating margin +140 bps to 26.2% (Q2 record); enterprise initiatives contributed 140 bps.
- FY 2024 GAAP EPS guidance narrowed to $10.30-$10.40 (prev $10.30-$10.70); operating margin guidance raised to 26.5%-27%.
- Free cash flow $571M (75% conversion to net income); $375M share repurchases in Q2; plans ~$1.5B buybacks for FY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/49826/000004982624000034/0000049826-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/49826/000004982624000034/itw-20240730.htm
  HTML page:      https://secwatch.observer/filing/0000049826-24-000034

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