Third Quarter 2023 Earnings Conference Call
ITW
2023 Financial Guidance
GAAP EPS
$9.77
$9.65 - $9.85
-Ex. '22 Divestiture gains $9.17
+5 - 7%
+1-2%
$16 - $16.2B
$15.9B
+2 - 3%
Organic
REVENUE
2022
2023E
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•
HIGHLIGHTS
Narrowed GAAP EPS guidance range from $9.55 to $9.95
- Includes $(0.12) for estimated Auto strike impact in Q4
Projecting organic growth of 2 to 3%
- Based on current levels of demand and estimated Auto
strike impact in Q4
Raising margin forecast to 25 to 25.5%
Improvement of 150 bps at the mid-point
- Enterprise initiatives contribute more than 100 bps
•
Free cash flow conversion of 100%+ to net income
OPERATING MARGIN
23.8%
25 - 25.5%
- Share repurchases of -$1.5 billion.
AFTER-TAX ROIC*
29.1%
30%+
STRONG OPERATIONAL EXECUTION AND FINANCIAL PERFORMANCE
8
* 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