Illinois Tool Works Navigates Market Headwinds With Mixed Q3 Results And Revised EPS Outlook

Illinois Tool Works Inc. (NYSE:ITW) shares are trading higher after the company reported mixed third-quarter 2024 results.

The company reported revenue of $3.966 billion, a decline of 1.6% year-over-year, missing the consensus of $4.017 billion.

The revenue saw a 1.4% drop in organic growth, a 0.4% foreign currency impact, and a 0.2% boost from acquisitions.

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Revenue By Segments:

Automotive OEM $772 million (-3% YoY)

Food Equipment $677 million (almost flat YoY)

Test & Measurement and Electronics $697 million (flat YoY)

Welding $462 million (-1% Y/Y)

Polymers & Fluids $448 million (-2% Y/Y)

Construction Products $479 million (-8% Y/Y) and

Specialty Products $438 ...