ITW - Illinois Tool Works GAAP EPS of $1.93 beats by $0.03 revenue of $3.7B beats by $150M; initiates full year guidance

Illinois Tool Works press release (NYSE:ITW): Q4 GAAP EPS of $1.93 beats by $0.03. Revenue of $3.7B (+5.7% Y/Y) beats by $150M. Full Year 2022 Guidance: The company is initiating full-year GAAP EPS guidance in the range of $8.90 to $9.30 per share, an increase of 10 to 15 percent, excluding the impact of the favorable one-time tax items in 2021. Total revenue growth is expected to be in the range of 7.5 to 10.5 percent with organic growth of six to nine percent vs. consensus of 7.68% growth Y/Y. Operating margin is expected to be in the range of 24 to 25 percent, with 100 basis points contribution from enterprise initiatives, partially offset by approximately 50 basis points each of margin dilution from MTS and price/cost. The company plans to repurchase approximately $1.5 billion of its own shares. The expected effective tax rate is in the range of 23 to 24

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Illinois Tool Works GAAP EPS of $1.93 beats by $0.03, revenue of $3.7B beats by $150M; initiates full year guidance