In its upcoming report, Illinois Tool Works (ITW) is predicted by Wall Street analysts to post quarterly earnings of $2.52 per share, reflecting a decline of 1.2% compared to the same period last year. Revenues are forecasted to be $4.02 billion, representing a year-over-year decrease of 0.3%. The consensus EPS estimate for the quarter has undergone a downward revision of 1.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their ...

GLENVIEW, Ill., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Illinois Tool Works Inc. (NYSE: ITW) will issue its third quarter 2024 results on Wednesday, October 30, 2024 at 7:00 a.m. CDT. Following the release, ITW will hold its third quarter 2024 earnings webcast at 9:00 a.m. CDT. To access the webcast for the event, please click on the following link: ITW Q3 2024 Earnings Webcast If you are a participant on the conference call, please dial 1-888-660-6652 (domestic) or 1-646-960-0554 (international) 10 minutes prior ...

Illinois Tool Works Inc. (ITW) has failed to impress investors with its recent operational performance due to persistent weakness in the Test & Measurement and Electronics segments. Also, given the company's extensive international presence, foreign currency headwind is an added uncertainty. Headquartered in Glenview, IL, Illinois Tool is a worldwide manufacturer of highly engineered products and specialty systems. The company's diversified range of industrial products and equipment is sold in multiple coun ...

Many different investing styles are deployed, as investors have their individual preferences. Still, market participants typically gravitate toward one of three strategies: income, growth, or value. Each style caters to different investor profiles. Income investors seek passive income from dividend payouts or other income-generating assets, growth investors seek to reap market-beating gains from companies expected to grow at an above-average level, and value investors look for discounted market opportunitie ...

Investing in equal parts of these five stocks produces an average dividend yield of 3%. The broader stock market continues to roar higher, with the S&P 500 index now up 46% since the start of 2023. But some investors may be looking to take their foot off the gas and put new capital to work in safe stocks. Coca-Cola (KO 0.58%), PepsiCo (PEP 0.46%), and Kenvue (KVUE 0.92%) are three consumer staples companies that pay sizable dividends. Illinois Tool Works (ITW 1.09%) and Target (TGT 0.13%) can be more cyclic ...

Illinois Tool Works Inc. (ITW) has been benefiting from positive momentum in the Automotive Original Equipment Manufacturer (OEM) segment driven by strength in the electric vehicles market and higher content in the Chinese OEM market. Organic revenues from the segment increased 1.9% in the first six months of 2024. The company is also experiencing strength in the Specialty Products segment, driven by increased equipment sales in the aerospace sector, primarily in Europe and North America. Organic revenues f ...

ITW's track record for returning capital to shareholders makes up for its lackluster sales growth. Dividend Kings are an elite category of companies that have paid and raised their dividends for at least 50 years. It's an honorable title. But not all Dividend Kings have what it takes to pay and raise their dividends for the next 50 years. Illinois Tool Works (ITW -0.63%) stands out as one the highest-quality Dividend Kings. It's the elite of the elite when it comes to growing payouts to investors. But its s ...

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 ...

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 ...

Financial Performance - Operating revenue for Q2 2024 was $4.03 billion, a slight decrease from $4.07 billion in Q2 2023, while year-to-date revenue was $8.00 billion compared to $8.09 billion in the same period last year[70]. - Operating revenue for Q2 2024 was $4,027 million, a decrease of 1.2% compared to Q2 2023's $4,074 million, primarily due to unfavorable foreign currency effects and lower organic revenue[73]. - Year-to-date operating revenue reached $889 million, a 5.0% increase from $846 million in 2023, with organic revenue growth of 6.1%[99]. - Operating revenue for the second quarter of 2024 was $1,631 million, a 0.6% increase from $1,622 million in 2023, driven by a 1.9% organic revenue growth, partially offset by a 1.3% decline due to foreign currency translation[80]. - The company experienced a 0.8% decrease in operating revenue year-to-date due to foreign currency impacts, despite a 10.1% increase in operating income[74]. Cost and Expenses - Cost of revenue in Q2 2024 was $2.26 billion, down 3.5% from $2.34 billion in Q2 2023, primarily due to lower revenue and foreign currency translation effects[70]. - Selling, administrative, and research and development expenses remained flat at $686 million in Q2 2024, consistent with Q2 2023, representing 17.0% of operating revenue[71]. - The company reported a pre-tax cumulative effect of a change in accounting method of $117 million as a reduction of cost of revenue in Q1 2024 due to the switch from LIFO to FIFO inventory accounting[67]. Profitability - Operating income increased by 4.5% to $1,054 million in Q2 2024 from $1,010 million in Q2 2023, with an operating margin of 26.2%, up 140 basis points year-over-year[73]. - Year-to-date operating income reached $2,181 million, a 10.1% increase from $1,982 million in the same period last year, with an operating margin of 27.3%[74]. - Operating income increased by 19.7% to $319 million in the second quarter of 2024, compared to $267 million in the same period of 2023, resulting in an operating margin of 19.6%, up 320 basis points year-over-year[80]. - Operating income for the Welding segment fell by 8.0% to $153 million in Q2 2024 from $167 million in Q2 2023, resulting in an operating margin decrease of 100 basis points to 32.9%[24]. Earnings and Shareholder Returns - Diluted earnings per share (EPS) for Q2 2024 was $2.54, reflecting a 2.4% increase from the previous year, and year-to-date EPS increased by 9.6% to $5.27[75]. - The company repurchased approximately 1.6 million shares for about $375 million in Q2 2024, totaling 3.0 million shares repurchased for $750 million year-to-date[75]. - The company announced a new stock repurchase program on August 4, 2023, allowing for the repurchase of up to $5.0 billion of common stock, with $4.2 billion remaining as of June 30, 2024[106]. Segment Performance - The Automotive OEM segment reported Q2 2024 operating revenue of $815 million, down 1.3% from $826 million in Q2 2023, with an operating income of $157 million, up 13.8% year-over-year[79]. - Organic revenue growth in the Specialty Products and Automotive OEM segments helped offset declines in other segments, with Automotive OEM segment growth at 10.3% in Q2 2024[74]. - The Food Equipment segment reported operating revenue of $667 million in the second quarter of 2024, a 2.1% increase from $654 million in 2023, with an operating margin of 27.1%[82]. - The Polymers & Fluids segment reported a 1.3% decline in operating revenue to $454 million in Q2 2024, with organic revenue increasing by 2.6%[91]. - The Construction Products segment experienced a 4.3% decrease in operating revenue to $504 million in Q2 2024, with organic revenue down 3.8%[94]. Cash Flow and Debt - Free cash flow for the second quarter of 2024 was $571 million, down from $705 million in Q2 2023, while year-to-date free cash flow was $1,065 million compared to $1,320 million in 2023[103]. - The company had $862 million in cash and equivalents as of June 30, 2024, with no outstanding borrowings under its $3.0 billion revolving credit facility[102]. - Total debt as of June 30, 2024, was $8,473 million, an increase from $8,164 million as of December 31, 2023[115]. Tax and Regulatory - The effective tax rate for Q2 2024 was 24.4%, compared to 21.4% in Q2 2023, influenced by discrete income tax benefits related to stock-based compensation[74]. - The effective tax rate for the three months ended June 30, 2024, was 24.4%, compared to 23.6% for the same period in 2023[109]. Risk and Compliance - The company faces various risks that could materially affect its business, including geopolitical tensions and raw material price increases[122]. - The company has not disclosed any material non-public information to securities analysts, adhering to its fair disclosure policy[123]. - The company has not reported any outstanding legal proceedings as of the latest update[128].