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Jun 30, 2020
ITW Q2 2020 Earnings Report
ITW's Q2 2020 performance demonstrated strength in managing the global pandemic's effects.
Key Takeaways
ITW reported a 29% decline in revenue, but managed to deliver $449 million in operating income and $681 million in free cash flow. The company's decentralized structure and flexible cost structure allowed it to reduce operating expenses by over $140 million.
Total revenue was $2.6 billion, with organic revenue declining by 27%.
Operating margin was 17.5%.
Operating income reached $449 million.
Free cash flow increased 12% to $681 million, representing a 213% conversion rate.
ITW
ITW
ITW Revenue by Segment
Forward Guidance
ITW suspended annual guidance for 2020 due to uncertainties regarding the duration and severity of the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income