Illinois Tool Works Inc. · NYSE:ITW
Illinois Tool Works — Q1 2023 Earnings Presentation
11 slides from Illinois Tool Works's earnings presentation, May 2, 2023
Slide 1: First Quarter 2023 Earnings Conference Call
FIRST QUARTER 2023 EARNINGS CONFERENCE CALL MAY 2, 2023
Slide 2: Forward-Looking Statements and 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 globa
Slide 3: Q1'23 Financial Performance Highlights
Q1’23 FINANCIAL PERFORMANCE HIGHLIGHTS GAAP EPS $2.11 $2.33 +10% • Solid start to the year as ITW continues to demonstrate the performance power of its proprietary business model +2% $4.0B and the resilience of its high-quality business portfolio $3.9B +5% - Organic growth of +5%. Positive organic g
Slide 4: Q1'23 Performance: Organic Growth by Major Geography
Q1’23 PERFORMANCE ORGANIC GROWTH BY MAJOR GEOGRAPHY AUTOMOTIVE OEM +19% $796M +5% $760M 18.1% +6% 16.1% (200) bps +5% +2% Q1'22 Q1'23 Q1'22 Q1'23 Total Revenue Operating Margin North EMEA Asia South America Pacific America • Organic revenue 8% % of ITW • North America 3% 55% 26% 17% 2% Revenue • Eur
Slide 5: Q1'23 Segment Performance: Food Equipment, Test & Measurement/Electronics
Q1’23 SEGMENT PERFORMANCE FOOD EQUIPMENT TEST & MEASUREMENT/ELECTRONICS 26.7% +440 bps $703M +3% 24.5% +270 bps $635M +12% 22.3% $685M 21.8% $566M Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Total Revenue Operating Margin Total Revenue Operating Margin • Organic revenue 16% • Organic revenue 6%
Slide 6: Q1'23 Segment Performance: Welding, Polymers & Fluids
Q1’23 SEGMENT PERFORMANCE WELDING POLYMERS & FLUIDS 31.9% +110 bps 30.8% $493M +10% $450M $481M (7)% $447M 24.5% 24.4% (10) bps Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Total Revenue Operating Margin Total Revenue Operating Margin • Organic revenue 10% • Organic revenue flat, divestiture impa
Slide 7: Q1'23 Segment Performance: Construction Products, Specialty Products
Q1’23 SEGMENT PERFORMANCE CONSTRUCTION PRODUCTS SPECIALTY PRODUCTS 27.5% +280 bps $551M $526M (5)% 26.6% $452M 25.6% (100) bps 24.7% $423M (6)% Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Q1'22 Q1'23 Total Revenue Operating Margin Total Revenue Operating Margin • Organic revenue (1)% • Organic revenue (5)%,
Slide 8: 2023 Financial Guidance Highlights
2023 FINANCIAL GUIDANCE HIGHLIGHTS GAAP EPS $9.77 $9.45 - $9.85 -Ex. ’22 Divestiture gains $9.17 +3 – 7% • While the near-term economic outlook continues to be uncertain, ITW remains well positioned to deliver best-in- class performance in any environment $16.3 - $16.6B $15.9B +3 - 5% - Projecting o
Slide 9: Q&A
Q&A 9
Slide 10: Recently Released Reports
R E C E N T LY R E L E A S E D R E P O RT S 2022 SUSTAINABILITY REPORT 2022 ANNUAL REPORT Link to 2022 Sustainability Report Link to 2022 Annual Report 10
Slide 11: Save the Date: ITW 2023 Investor Day
SAVE THE DATE ITW 2023 Investor Day Thursday, May 18, 2023 1:00 pm EDT Boston ITW Strategy Update A link to the live webcast will be available on our website: investor.itw.com 11