Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • AI Tools
  • Multichannel Amplification
  • Guaranteed Paid Placement
  • SocialBoost
  • All Products
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Hamburger menu
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • Overview
  • Distribution by PR Newswire
  • AI Tools
  • Multichannel Amplification
  • SocialBoost
  • All Products
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Client Login
  • Resources
  • Blog
  • Journalists
  • RSS

ITW Reports Fourth Quarter 2013 Financial Results

- Fourth quarter diluted EPS from continuing operations of $0.92, higher than Company midpoint guidance of $0.89

- Operating margins of 17.7 percent up 260 basis points versus year-ago period; Enterprise initiatives contribute 110 basis points

- Organic revenues up 3 percent

- Company reiterates 2014 full-year EPS guidance range of $4.30 to $4.50, up 18 percent to 24 percent


News provided by

Illinois Tool Works Inc.

Jan 28, 2014, 08:00 ET

Share this article

Share toX

Share this article

Share toX

GLENVIEW, Ill., Jan. 28, 2014 /PRNewswire/ -- Illinois Tool Works Inc. (NYSE: ITW) today reported fourth quarter diluted earnings per share (EPS) from continuing operations of $0.92, three cents higher than the midpoint of the Company's forecast. The better-than-expected EPS was driven by strong contributions from the Company's enterprise initiatives as well as improving organic revenue growth from both international and North American geographies.

Key highlights for the 2013 fourth quarter financial results versus the prior-year period include:

  • Total Company revenues were $3.55 billion while operating income totaled $628 million. Excluding the impact of Decorative Surfaces 2012 results, Company operating revenues increased 4.8 percent and operating income grew 22.7 percent. Organic revenues increased 2.8 percent, with international growing 3.3 percent and North America growing 2.6 percent. Internationally, Europe showed further stabilization as organic revenues grew 1.8 percent and Asia Pacific grew 4.1 percent.
  • Fourth quarter 2013 EPS of $0.92 was 43 percent higher than the prior-year period.
  • Fourth quarter operating margins of 17.7 percent were 260 basis points higher, with enterprise initiatives contributing 110 basis points.
  • Fourth quarter free operating cash flow was at 147 percent of net income.
  • Fourth quarter segment highlights include:
  • Automotive OEM grew organic revenues 11.2 percent as increasing product penetration with key global customers resulted in revenue growth outperforming worldwide auto builds by 5 percentage points. Operating margins improved 160 basis points to 20.4 percent.
  • Food Equipment's organic revenues grew 4.2 percent largely due to solid equipment and service growth in North America. Operating margins improved 250 basis points to 19.5 percent.

"We were pleased with the Company's performance in the quarter and for the year," said Scott Santi, president and chief executive officer.  "In the quarter, we continued to deliver meaningful improvement in our earnings per share, operating margin, and return on invested capital metrics.  In addition, we saw modest improvement in the demand environment in a number of our key end markets which drove a noticeable sequential improvement in the Company's organic growth rate in the quarter."

"For full-year 2013, we grew earnings per share 13 percent, expanded operating margins by 100 basis points to 17.8 percent, improved after-tax return on invested capital by 180 basis points to 16.3 percent, and returned $2.9 billion to shareholders in the form of dividends and share repurchases.  As a result of the ongoing execution of our enterprise strategy initiatives, the Company is well positioned to deliver another year of strong progress towards our enterprise strategy performance goals across a range of macro-economic conditions in 2014."

Comparisons to the Company's 2012 financial results exclude the impacts of the divested Decorative Surfaces segment.  Reconciliations of GAAP to non-GAAP results are included in the attached exhibits.

The Company is reiterating its full-year 2014 earnings forecast that it presented in December at its annual investor and analyst day in New York City. The Company continues to expect full-year 2014 EPS to be in a range of $4.30 to $4.50. This EPS range assumes a full-year total revenue growth range of 2 percent to 4 percent and full-year organic growth of 2 percent to 3 percent. For the 2014 first quarter, the Company is forecasting EPS to be in a range of $0.93 to $1.01 and expects total revenue growth in a range of 3 percent to 6 percent.

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding total revenue growth, organic revenue growth, operating margin improvement and diluted income per share from continuing operations. These statements are subject to certain risks, uncertainties and other factors which could cause actual results to differ materially from those anticipated. Such factors include those contained in ITW's 2012 Form 10-K and Form 10-Q for the quarter ended September 30, 2013.

ITW is a Fortune 200 global diversified industrial manufacturer of value added consumables and specialty equipment with related service businesses. The Company focuses on solid growth, improving profitability and strong returns across its worldwide platforms and businesses. These businesses serve local customers and markets around the globe, with a significant presence in developed as well as emerging markets. ITW's revenues totaled $14.1 billion in 2013.

   

ILLINOIS TOOL WORKS INC. and SUBSIDIARIES

STATEMENT OF INCOME (UNAUDITED)






Three Months Ended


Twelve Months Ended

(In millions except per share amounts)

December 31,


December 31,


2013


2012


2013


2012

Operating Revenues

$

3,554


$

3,484


$

14,135


$

14,791

Cost of revenues

2,173


2,177


8,554


9,134

Selling, administrative, and research and development expenses

689


721


2,815


2,928

Amortization of intangible assets

64


62


250


252

Impairment of goodwill and other intangible assets

—


—


2


2

Operating Income

628


524


2,514


2,475

Interest expense

(60)


(61)


(239)


(213)

Gain on sale of interest in Decorative Surfaces

—


933


—


933

Other income (expense)

5


(20)


72


11

Income from Continuing Operations Before Income Taxes

573


1,376


2,347


3,206

Income Taxes

166


455


717


973

Income from Continuing Operations

407


921


1,630


2,233

Income from Discontinued Operations

1


58


49


637

Net Income

$

408


$

979


$

1,679


$

2,870









Income Per Share from Continuing Operations:








Basic

$

0.93


$

2.00


$

3.65


$

4.75

Diluted

$

0.92


$

1.99


$

3.63


$

4.72

Income Per Share from Discontinued Operations:








Basic

$

—


$

0.12


$

0.11


$

1.36

Diluted

$

—


$

0.12


$

0.11


$

1.35

Net Income Per Share:








Basic

$

0.93


$

2.13


$

3.76


$

6.11

Diluted

$

0.93


$

2.11


$

3.74


$

6.06









Shares of Common Stock Outstanding During the Period:








Average

437.7


459.7


446.2


469.8

Average assuming dilution

440.9


463.1


449.3


473.2





FREE OPERATING CASH FLOW

Three Months Ended


Twelve Months Ended


December 31,


December 31,

(In millions)

2013


2012


2013


2012

Net cash provided by operating activities

$

708


$

605


$

2,528


$

2,072

Less: Additions to plant and equipment

(111)


(108)


(368)


(382)

Free operating cash flow

$

597


$

497


$

2,160


$

1,690

ILLINOIS TOOL WORKS INC. and SUBSIDIARIES

STATEMENT OF FINANCIAL POSITION (UNAUDITED)





(In millions)

December 31,
2013


December 31,
2012

ASSETS




Current Assets:




Cash and equivalents

$

3,618


$

2,779

Trade receivables

2,365


2,742

Inventories

1,247


1,585

Deferred income taxes

384


332

Prepaid expenses and other current assets

366


522

Assets held for sale

1,836


—

Total current assets

9,816


7,960





Net Plant and Equipment

1,709


1,994

Goodwill

4,886


5,530

Intangible Assets

1,999


2,258

Deferred Income Taxes

359


391

Other Assets

1,197


1,176


$

19,966


$

19,309





LIABILITIES AND STOCKHOLDERS' EQUITY




Current Liabilities:




Short-term debt

$

3,551


$

459

Accounts payable

634


676

Accrued expenses

1,272


1,392

Cash dividends payable

181


—

Income taxes payable

69


116

Deferred income taxes

10


8

Liabilities held for sale

317


—

Total current liabilities

6,034


2,651





Noncurrent Liabilities:




Long-term debt

2,793


4,589

Deferred income taxes

507


244

Other liabilities

923


1,255

Total noncurrent liabilities

4,223


6,088





Stockholders' Equity:




Common stock

6


5

Additional paid-in-capital

1,046


1,012

Income reinvested in the business

14,943


13,973

Common stock held in treasury

(6,676)


(4,722)

Accumulated other comprehensive income

384


293

Noncontrolling interest

6


9

Total stockholders' equity

9,709


10,570


$

19,966


$

19,309

ILLINOIS TOOL WORKS INC. and SUBSIDIARIES

GAAP to NON-GAAP RECONCILIATIONS





(In millions except per share amounts)

Three Months Ended


Three Months Ended


December 31, 2013


December 31, 2012


Total Revenue


Operating
Income


Operating
Margin


Diluted EPS


Total Revenue


Operating
Income


Operating
Margin


Diluted EPS

Actual Results (GAAP)

$

3,554


$

628


17.7%


$

0.92


$

3,484


$

524


15.0%


$

1.99

Decorative Surfaces net gain

—


—


—


—


—


—


—


1.37

Decorative Surfaces equity interest (2012)

—


—


—


—


—


—


—


(0.04)

Decorative Surfaces operating results

—


—


—


—


93


12


12.9%


0.01

Adjusted Results (Non-GAAP)

$

3,554


$

628


17.7%


$

0.92


$

3,391


$

512


15.1%


$

0.65

















Q4 2013 Growth vs. 2012 (Non-GAAP)

4.8%


22.7%


260 bps


42.9%






























(In millions except per share amounts)

Twelve Months Ended


Twelve Months Ended


December 31, 2013


December 31, 2012


Total Revenue


Operating
Income


Operating
Margin


Diluted EPS


Total Revenue


Operating
Income


Operating
Margin


Diluted EPS

Actual Results (GAAP)

$

14,135


$

2,514


17.8%


$

3.63


$

14,791


$

2,475


16.7%


$

4.72

Decorative Surfaces net gain

—


—


—


—


—


—


—


1.34

Decorative Surfaces equity interest (2012)

—


—


—


—


—


—


—


(0.04)

Decorative Surfaces operating results

—


—


—


—


921


143


15.5%


0.21

Adjusted Results (Non-GAAP)

$

14,135


$

2,514


17.8%


$

3.63


$

13,870


$

2,332


16.8%


$

3.21

















FY 2013 Growth vs. 2012 (Non-GAAP)

1.9%


7.8%


100 bps


13.1%









ILLINOIS TOOL WORKS INC. and SUBSIDIARIES

ADJUSTED RETURN ON AVERAGE INVESTED CAPITAL





Three Months Ended


Twelve Months Ended

(Dollars in millions)

December 31,


December 31,


2013


2012


2013


2012

Operating income

$

628


$

524


$

2,514


$

2,475

Adjustment for Decorative Surfaces

—


(12)


—


(143)

Adjusted operating income

628


512


2,514


2,332

Tax rate (as adjusted for discrete tax charges in 3Q 2013 and 4Q 2012)

29.0%


30.4%


28.8%


29.2%

Taxes

(182)


(156)


(724)


(681)

Adjusted operating income after taxes

$

446


$

356


$

1,790


$

1,651









Invested capital:








Trade receivables

$

2,365


$

2,742


$

2,365


$

2,742

Inventories

1,247


1,585


1,247


1,585

Net plant and equipment

1,709


1,994


1,709


1,994

Goodwill and intangible assets

6,885


7,788


6,885


7,788

Accounts payable and accrued expenses

(1,906)


(2,068)


(1,906)


(2,068)

Net assets held for sale

1,519


—


1,519


—

Other, net

616


798


616


798

Total invested capital

$

12,435


$

12,839


$

12,435


$

12,839









Average invested capital

$

12,511


$

13,022


$

12,605


$

13,160

Adjustment for Decorative Surfaces

(165)


(232)


(169)


(274)

Adjustment for Industrial Packaging

(1,469)


(1,494)


(1,477)


(1,504)

Adjusted average invested capital

$

10,877


$

11,296


$

10,959


$

11,382

Annualized return on average invested capital

16.4%


12.6%


16.3%


14.5%









A reconciliation of the effective tax rate to the adjusted tax rate excluding the discrete tax charge is as follows:





(Dollars in millions)

Three Months Ended

December 31,


Twelve Months Ended

December 31,


2013


2012


2013


2012


Income
Taxes


Tax Rate


Income
Taxes


Tax Rate


Income
Taxes


Tax Rate


Income
Taxes


Tax Rate

As reported

$

166


29.0%


$

455


33.0%


$

717


30.6%


$

973


30.3%

Discrete tax charges

—


—%


(36)


(2.6)%


(40)


(1.8)%


(36)


(1.1)%

As adjusted

$

166


29.0%


$

419


30.4%


$

677


28.8%


$

937


29.2%

ILLINOIS TOOL WORKS INC. and SUBSIDIARIES

SEGMENT DATA (UNAUDITED)



Three Months Ended December 31, 2013

% F(U) vs. prior year

(Dollars in millions)

Total
Revenue


Operating
Income


Operating
Margin

Total
Revenue


Organic
Revenue


Operating
Margin

Test & Measurement and Electronics

$

559


$

88


15.7%

1.2%


1.1%


250 bps

Automotive OEM

604


123


20.4%

12.4%


11.2%


160 bps

Polymers & Fluids

472


76


16.0%

(2.4)%


(1.2)%


20 bps

Food Equipment

547


107


19.5%

9.7%


4.2%


250 bps

Welding

447


103


23.1%

1.7%


—%


10 bps

Construction Products

422


58


13.8%

(0.1)%


1.9%


310 bps

Specialty Products

510


91


17.9%

9.1%


1.2%


50 bps

Intersegment

(7)


—


—%

—%


—%


—

Total Segments

3,554


646


18.2%

4.8%


2.8%


160 bps

Decorative Surfaces

—


—


—%

(100)%


(100)%


—

Unallocated

—


(18)


—%

—%


—%


—

Total Company

$

3,554


$

628


17.7%

2.0%


2.8%


270 bps



Twelve Months Ended December 31, 2013

% F(U) vs. prior year

(Dollars in millions)

Total
Revenue


Operating
Income


Operating
Margin

Total
Revenue


Organic
Revenue


Operating
Margin

Test & Measurement and Electronics

$

2,176


$

321


14.8

(5.3)%


(6.0)%


-10 bps

Automotive OEM

2,396


490


20.5

10.4%


9.5%


110 bps

Polymers & Fluids

1,993


335


16.8

(3.4)%


(2.9)%


100 bps

Food Equipment

2,047


385


18.8

5.5%


1.9%


170 bps

Welding

1,837


464


25.3

(0.4)%


(2.3)%


-10 bps

Construction Products

1,717


238


13.9

(0.5)%


0.5%


230 bps

Specialty Products

2,007


408


20.3

7.3%


1.3%


80 bps

Intersegment

(38)


—


—

—%


—%


—

Total Segments

14,135


2,641


18.7

1.9%


0.2%


100 bps

Decorative Surfaces

—


—


—

(100)%


(100)%


—

Unallocated

—


(127)


—

—%


—%


—

Total Company

$

14,135


$

2,514


17.8

(4.4)%


0.2%


110 bps

SOURCE Illinois Tool Works Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED

Modal title

Contact PR Newswire

  • Call PR Newswire at 888-776-0942
    from 8 AM - 9 PM ET
  • Chat with an Expert
  • General Inquiries
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Italy
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom
  • Vietnam

My Services

  • All New Releases
  • Platform
  • ProfNet
  • Data Privacy

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Platform
  • ProfNet
Call PR Newswire at
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookies
Copyright © 2025 Cision US Inc.