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Sep 30, 2023
ITW Q3 2023 Earnings Report
ITW's Q3 2023 performance was driven by its business model and diversified portfolio, resulting in strong operational execution and financial results.
Key Takeaways
ITW reported a revenue of $4.0 billion, a 0.5% increase, and an operating income of $1.1 billion, a 9% increase. The company's GAAP EPS increased by 9% to $2.55. The operating margin expanded by 200 basis points year over year to 26.5 percent, and free cash flow grew 40 percent.
Revenue increased by 0.5% to $4.0 billion.
Operating income increased by 9% to $1.1 billion.
Operating margin expanded by 200 basis points to 26.5%.
GAAP EPS increased by 9% to $2.55.
ITW
ITW
ITW Revenue by Segment
Revenue by Segment
Automotive OEM Revenue
CapyFin.comFood Equipment Revenue
CapyFin.comTest & Measurement and Electronics Revenue
CapyFin.comWelding Revenue
CapyFin.comPolymers & Fluids Revenue
CapyFin.comConstruction Products Revenue
CapyFin.comSpecialty Products Revenue
CapyFin.com Forward Guidance
ITW is narrowing the range of its full year GAAP EPS guidance from $9.55 to $9.95 per share to a range of $9.65 to $9.85 per share. The company is projecting total revenue growth of one to two percent with organic growth of two to three percent.
Revenue & Expenses
Visualization of income flow from segment revenue to net income