VALQ - Mixed Signals For Illinois Tool Works: Q1 Profit Soars Revenue Stumbles | Benzinga
Illinois Tool Works Inc. (NYSE:ITW) shares are trading lower after the company reported first-quarter FY24 revenue of $3.97 billion, missing the consensus of $4.03 billion.
Revenue declined 1% Y/Y as organic growth fell by 0.6%, with foreign currency translation impact reducing revenue by 0.4%.
GAAP EPS totaled $2.73, and Adjusted EPS totaled $2.44, beating the consensus of $2.36.
The operating income increased 16% Y/Y to $1.13 billion, and the operating margin came in at 28.4%, ...