Form 8-K · Current Report · Filed 2024-04-30
ITW Announces First Quarter 2024 Results and Raises Guidance
Illinois Tool Works Inc. reported its first quarter 2024 results, showing a solid performance with organic growth of -0.6%, operating income up 4% to $1.01 billion, and operating margin expansion by 120 basis points to 25.4%. The company also raised its full-year 2024 GAAP EPS guidance by $0.30 to a range of $10.30 to $10.70 per share. A one-time LIFO accounting change added $117 million to operating income and $0.29 to EPS.
- Filer
- Illinois Tool Works Inc. ITW · NYSE
- Filed
- Accession
- 0000049826-24-000017
- CIK
- 0000049826
- Signal
- High impactIndustrials
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$249.24
Next session
-2.8%
Since filing
+15.1%
Latest close
$286.95
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from ITW reporting the same item, with the next session's move:
Exhibits (1)
About Illinois Tool Works Inc.
Illinois Tool Works Inc. is a multinational manufacturer specializing in industrial equipment and tools. The company is renowned for creating engineered products and systems, serving diverse sectors such as automotive, food, construction, and electronics. Illinois Tool Works Inc. focuses on an 80/20 business process, aiming to generate 80% of its results from its top 20% of products, which allows for efficient operations and concentrated growth. The company's product range includes welding equipment, polymers, fasteners, and warewashing machinery, providing essential solutions that enhance productivity and quality in production processes. Operating globally, Illinois Tool Works Inc. plays a pivotal role in industrial supply chains, driving advancements through innovation and streamlined operations. Founded in 1912 and headquartered in Glenview, Illinois, the organization has solidified its position as a leader in industrial manufacturing, continually impacting key industries with its comprehensive and sustainable solutions.
Never miss another ITW filing
Profitelligence watches EDGAR around the clock and alerts you within seconds.