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Illinois Tool Works posted record Q2 EPS and operating income, with revenue up slightly year-over-year. Enterprise initiatives significantly contributed to margin expansion, and the company raised its full-year guidance.
GAAP EPS reached a Q2 record of $2.58.
Revenue was $4.1 billion, with flat organic growth.
Operating income was $1.068 billion with a 26.3% margin.
Free cash flow totaled $449 million, representing 59% of net income.
ITW raised its full-year GAAP EPS guidance and expects modest revenue and margin expansion driven by enterprise initiatives.