Third Quarter 2023 Earnings Conference Call
ITW
GAAP EPS
REVENUE
Q3'23 Financial Performance
$2.35
$2.55
+9%
$4.01B
$4.03B
+0.5%
Q3'22
Q3'23
+0.2%
Organic
•
HIGHLIGHTS
Organic revenue growth of +2% on an equal days' basis
- Foreign exchange translation impact of +1.5%
- Divestiture impact (1.2)%
Strong margin and income performance
- Operating margins up 200 bps; Enterprise initiatives
contributed 140 bps
- Operating income grew 9% to $1.1B
GAAP EPS grew 9% to $2.55
- Includes $0.07 of net favorable corporate items
OPERATING MARGIN
24.5%
26.5%
+200 bps
Free cash flow* of $856M, an increase of 40%
- 111% conversion to net income
AFTER-TAX ROIC*
29.9%
31.9%
+200 bps
STRONG OPERATIONAL EXECUTION AND FINANCIAL PERFORMANCE
3
* See ITW's Q3'23 press release for the reconciliation from GAAP to non-GAAP measures.
Never stronger. Never better positioned for the future.View entire presentation