GLENVIEW, Ill., Aug. 02, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Illinois Tool Works Inc. (NYSE: ITW) authorized a seven percent increase to the dividend payout to shareholders, representing a quarterly increase of $0.10 per share – or $0.40 per share annually – versus the current dividend rate. The Board also declared a dividend on the company's common stock of $1.50 per share for the third quarter of 2024. The dividend equates to $6.00 per share on a full-year basis. The dividend will be paid o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 1-4797 ILLINOIS TOOL WORKS INC. (Exact name of registrant as specified in its charter) | --- | --- | ...

Core Viewpoint - Illinois Tool Works Inc. reported second-quarter 2024 adjusted earnings of $2.54 per share, exceeding the Zacks Consensus Estimate of $2.45, with a year-over-year increase of 2% [1] - However, revenues of $4.0 billion fell short of the consensus estimate of $4.1 billion, reflecting a 1.2% year-over-year decline due to unfavorable foreign currency translation [1] Financial Performance - The company's cost of sales decreased by 3.5% year over year to $2.26 billion, while selling, administrative, and research and development expenses decreased by 0.6% to $686 million [5] - The operating margin improved to 26.2%, up 140 basis points from the previous year, with enterprise initiatives contributing 140 basis points to this margin [5] Segmental Performance - Test & Measurement and Electronics revenues decreased by 3% year over year to $678 million, missing the estimate of $711 million [2] - Automotive Original Equipment Manufacturer revenues fell by 1% year over year to $815 million, below the estimate of $855.9 million [2] - Food Equipment revenues increased by 2% year over year to $667 million, slightly above the estimate of $665 million [3] - Welding revenues declined by 5% year over year to $466 million, missing the estimate of $493.9 million [3] - Construction Products revenues decreased by 4% year over year to $504 million, below the estimate of $510.7 million [4] - Specialty Products revenues increased by 6% year over year to $449 million, exceeding the estimate of $412.5 million [4] - Polymers & Fluids revenues declined by 1% year over year to $454 million, slightly below the estimate of $460.1 million [4] Balance Sheet and Cash Flow - At the end of the second quarter, cash and equivalents stood at $862 million, down from $1.1 billion at the end of December 2023 [6] - Long-term debt increased to $6.4 billion from $6.3 billion at the end of December 2023 [6] - In the first half of 2024, net cash generated from operating activities was $1.3 billion, a decline of 15.9% year over year [7] - Capital spending on plant and equipment was $211 million, up 6.6% year over year, while free cash flow decreased by 19.3% year over year to $1.1 billion [7] 2024 Guidance - The company expects earnings to be in the range of $10.30-$10.40 per share, with total revenues and organic revenues anticipated to be flat [8] - Operating margin is projected to be between 26.5% and 27%, with enterprise initiatives expected to contribute more than 100 basis points [8] - Free cash flow is expected to exceed 100% of net income, and the company plans to repurchase approximately $1.5 billion worth of shares [8] - The expected tax rate is between 24% and 24.5% [8]

Illinois Tool Works Inc. (NYSE:ITW) Q2 2024 Earnings Conference Call July 30, 2024 10:00 AM ET Company Participants Erin Linnihan - VP, IR Christopher O'Herlihy - President and CEO Michael Larsen - SVP and CFO Conference Call Participants Andy Kaplowitz - Citigroup Scott Davis - Melius Research Tami Zakaria - JPMorgan Joe Ritchie - Goldman Sachs Julian Mitchell - Barclays Walt Liptak - Seaport Global Operator Good morning. My name is Audra, and I will be your conference operator today. At this time, I would ...

6 • Europe (7)% • Australia/New Zealand (4)% GAAP EPS $9.74 $10.30 – $10.40 +6 - 7% • Revenue and organic growth projected to be ~flat - Based on current levels of demand exiting Q2 and declining automotive build forecast - Enterprise initiatives contribute more than 100 bps 2023 2024E +165 bps STRONG EXECUTION IN A CHALLENGING MACRO DEMAND ENVIRONMENT Revenue - Reduction of (1)% / $(0.15) at the mid-pt. vs. prior range Operating Margin 25.1% After-tax ROIC* 30.4% 31%+ *See ITW's Q2'24 press release for the ...

Illinois Tool Works (ITW) came out with quarterly earnings of $2.54 per share, beating the Zacks Consensus Estimate of $2.45 per share. This compares to earnings of $2.41 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 3.67%. A quarter ago, it was expected that this equipment manufacturer for the transportation, power, food and construction industries would post earnings of $2.35 per share when it actually produced earnings o ...

• Revenue of $4.0 billion, a decrease of 1% with flat organic growth • Operating income of $1.05 billion, an increase of 4.5% • Operating margin of 26.2%, an increase of 140 bps as enterprise initiatives contributed 140 bps • GAAP EPS of $2.54, an increase of 2%; Excl. a one-time 2023 tax item, EPS increased 5% • Narrowing full year GAAP EPS guidance to a range of $10.30 to $10.40 per share Second quarter revenue of $4.0 billion declined by 1.2 percent as organic growth declined 0.1 percent. Foreign currenc ...

Revenue of $4.0 billion, a decrease of 1% with flat organic growth Operating income of $1.05 billion, an increase of 4.5% Operating margin of 26.2%, an increase of 140 bps as enterprise initiatives contributed 140 bps GAAP EPS of $2.54, an increase of 2%; Excl. a one-time 2023 tax item, EPS increased 5% Narrowing full year GAAP EPS guidance to a range of $10.30 to $10.40 per share GLENVIEW, Ill., July 30, 2024 (GLOBE NEWSWIRE) -- Illinois Tool Works Inc. (NYSE: ITW) today reported its second quarter 2024 re ...

"While the demand environment continued to moderate across our portfolio, we delivered a solid quarter with strong operational execution and profitability," said Christopher A. O'Herlihy, President and Chief Executive Officer. "Our ability to overcome near-term macro challenges and expand our margin and profitability to record levels as evidenced by margin improvement of 140 basis points to 26.2 percent and EPS growth of more than five percent, is a direct result of the focused execution by our team of dedi ...

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights. In light of this perspective, let's dive into the average estimates of certain Illinois Tool Works metrics that are commonly tracked and forecasted by Wall Street analysts. Based on the collective assessment of analysts, 'Operating Revenues- Test & Measurement and Electronics' should arrive at $708.57 mil ...