Illinois Tool Works Inc. · NYSE:ITW
Illinois Tool Works — Q2 2022 Earnings Presentation
9 slides from Illinois Tool Works's earnings presentation, Aug 2, 2022
Slide 1: Second Quarter 2022 Earnings Conference Call
SECOND QUARTER 2022 EARNINGS CONFERENCE CALL AUGUST 2, 2022
Slide 2: Forward-Looking Statements / Safe Harbor Statement
F O RWA R D - L O O K I N G S TAT E M E N T S SAFE HARBOR STATEMENT This presentation and related conference call contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements regarding the d
Slide 3: Q2'22 Financial Performance
Q2'22 FINANCIAL PERFORMANCE COMMENTARY GAAP EPS $2.45 $2.37 • Leveraging the performance power of the ITW business +9% model to deliver top-tier performance in any environment $4.0B - Q2 EPS incl. $(0.10) of FX headwind and $(0.05) of higher $3.7B 80/20 FTB restructuring expense vs. prior year +10%
Slide 4: Q2'22 Segment Performance: Automotive OEM
Q2'22 SEGMENT PERFORMANCE PRICE/COST MARGIN DILUTION IMPACT AUTOMOTIVE OEM $707M $711M +1% 18.8% (180) bps (250) bps 17.0% 80/20 FTB (200) bps (200) bps (270) bps Restructuring 14.3% (160) bps (120) bps (60) bps Q2'21 Q2'22 Q2'21 Q2'22 Total Revenue Operating Margin Q1'21 Q2’21 Q3’21 Q4’21 Q1'22 Q2'
Slide 5: Q2'22 Segment Performance: Food Equipment, Test & Measurement/Electronics
Q2'22 SEGMENT PERFORMANCE FOOD EQUIPMENT TEST & MEASUREMENT/ELECTRONICS $614M +20% +15% $696M 24.7% +270 bps $606M 28.1% $514M MTS (230) bps 22.0% 25.8% (330) bps MTS Acquisition 22.5% Q2'21 Q2'22 Q2'21 Q2'22 Q2'21 Q2'22 Q2'21 Q2'22 Total Revenue Operating Margin Total Revenue Operating Margin • Org
Slide 6: Q2'22 Segment Performance: Welding, Polymers & Fluids
Q2'22 SEGMENT PERFORMANCE WELDING POLYMERS & FLUIDS $486M +21% 29.3% +80 bps +7% 28.5% $496M $466M 27.3% $402M (220) bps 25.1% Q2'21 Q2'22 Q2'21 Q2'22 Q2'21 Q2'22 Q2'21 Q2'22 Total Revenue Operating Margin Total Revenue Operating Margin • Organic revenue 22% • Organic revenue 10% • Equipment 24%, Co
Slide 7: Q2'22 Segment Performance: Construction and Specialty Products
Q2'22 SEGMENT PERFORMANCE CONSTRUCTION PRODUCTS SPECIALTY PRODUCTS $565M +9% 27.6% 27.6% - bps $518M $471M 27.2% 26.9% (30) bps $447M (5)% Q2'21 Q2'22 Q2'21 Q2'22 Q2'21 Q2'22 Q2'21 Q2'22 Total Revenue Operating Margin Total Revenue Operating Margin • Organic revenue 15% • Organic revenue (2)% • Nort
Slide 8: 2022 Financial Guidance
2022 FINANCIAL GUIDANCE COMMENTARY GAAP EPS $8.51 $9.00 - $9.40 +6 - 10% • 7 to 10% organic growth based on 1H’22 results and current levels of demand for 2H’22 $15.4 - $15.8B - MTS acquisition adds 3% $14.5B +7 - 10% - Foreign currency translation impact of (4)% Organic • GAAP EPS guidance of $9.00
Slide 9: Q&A
Q&A 9