Exhibit 99.1 ITW Reports First Quarter 2024 Results • Revenue of $4.0 billion, organic growth declined (0.6)% as expected • Operating income of $1.13 billion, an increase of 16% includes $117 million benefit from a one-time LIFO accounting change (“item”); ex-item, operating income was $1.01 billion, an increase of 4% • Operating margin of 28.4%, an increase of 420 bps; 25.4% ex-item, an increase of 120 bps as enterprise initiatives contributed 140 bps • GAAP EPS of $2.73, an increase of 17%; EPS of $2.44 e ...