Illinois Tool Works Inc. · NYSE:ITW
Illinois Tool Works — Q2 2024 Earnings Presentation
9 slides from Illinois Tool Works's earnings presentation, Jul 30, 2024
Slide 1: Second Quarter 2024 Earnings Conference Call
Second Quarter 2024 July 30, 2024 Earnings Conference Call
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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 global supply chain chal
Slide 3: Q2'24 Financial Performance
Q2’24 Financial Performance GAAP EPS $2.48 $2.54 +2% - Ex. one-time tax item $2.41 +5% COMMENTARY • Demand continued to moderate across our portfolio $4.1B $4.0B (1)% - Q2 revs. were approx. 1%-pt / $50M lower than what they would have been had demand held at levels exiting Q1 (0.1)% Organic Revenue
Slide 4: Q2'24 Segment Performance: Automotive OEM
Q2’24 Segment Performance ORGANIC GROWTH BY GEOGRAPHY AUTOMOTIVE OEM (1)% +260 bps 19.4% $826M $815M 16.8% +5% +3% North +1% America (2)% EMEA APAC China Q2'23 Q2'24 Q2'23 Q2'24 Revenue Operating Margin • Demand continued to moderate as near-term • Organic revenue flat macro environment remains chal
Slide 5: Q2'24 Segment Performance: Food Equipment, Test & Measurement/Electronics
Q2’24 Segment Performance FOOD EQUIPMENT TEST & MEASUREMENT/ELECTRONICS +2% 27.8% (70) bps $700M (3)% +30 bps $678M 23.2% 23.5% $654M $667M 27.1% Q2'23 Q2'24 Q2'23 Q2'24 Q2'23 Q2'24 Q2'23 Q2'24 Revenue Operating Margin Revenue Operating Margin • Organic revenue 2% • Organic revenue (3)% • Equipment
Slide 6: Q2'24 Segment Performance: Welding, Polymers & Fluids
Q2’24 Segment Performance WELDING POLYMERS & FLUIDS (100) bps 33.9% +230 bps $490M (5)% 32.9% $459M $454M (1)% 28.2% $466M 25.9% Q2'23 Q2'24 Q2'23 Q2'24 Q2'23 Q2'24 Q2'23 Q2'24 Revenue Operating Margin Revenue Operating Margin • Organic revenue (5)% • Organic revenue 3% • Equipment (5)%, Consumables
Slide 7: Q2'24 Segment Performance: Construction and Specialty Products
Q2’24 Segment Performance CONSTRUCTION PRODUCTS SPECIALTY PRODUCTS $526M (4)% +10 bps $449M +6% +590 bps $504M $423M 31.9% 29.3% 29.4% 26.0% Q2'23 Q2'24 Q2'23 Q2'24 Q2'23 Q2'24 Q2'23 Q2'24 Revenue Operating Margin Revenue Operating Margin • Organic revenue (4)% • Organic revenue 7% • North America (
Slide 8: 2024 Financial Guidance
2024 Financial Guidance COMMENTARY GAAP EPS $9.74 $10.30 – $10.40 +6 - 7% • Revenue and organic growth projected to be ~flat - Based on current levels of demand exiting Q2 and $16.1B ~$16.1B ~flat declining automotive build forecast • Raised operating margin guidance to 26.5 to 27% Revenue - Enterpr
Slide 9: Q&A
Q&A