ITW(ITW) - 2024 Q1 - Quarterly Results
ITWITW(ITW)2024-04-30 21:15

Exhibit 99.1 ITW Reports First Quarter 2024 Results • Revenue of 4.0billion,organicgrowthdeclined(0.6)4.0 billion, organic growth declined (0.6)% as expected • Operating income of 1.13 billion, an increase of 16% includes 117millionbenefitfromaone−timeLIFOaccountingchange(“item”);ex−item,operatingincomewas117 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,anincreaseof172.73, an increase of 17%; EPS of 2.44 e ...