ITW - Illinois Tool Works Q3 Earnings Miss Estimates Lowers Guidance Due To Ongoing Automotive Industry Labor Actions | Benzinga
Illinois Tool Works Inc. (NYSE: ITW) reported third-quarter FY23 revenue growth of 0.5% year-over-year to $4.031 billion, missing the consensus of $4.09 billion.
The operating income increased 9% Y/Y to $1.1 billion, and the operating margin was 26.5%, an increase of 200 bps.
GAAP EPS totaled $2.55, beating the consensus of $2.46.
ITW's operating cash flow was $982 million, and free cash flow ...