Illinois Tool Works Inc. (ITW) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Investor Relations, you may begin your conference. Thank you, Lacey. Good morning and welcome to ITW's first quarter 2025 conference call. Today, I'm joined by our President and CEO, Chris O'Harely, and Senior Vice President and CFO, Michael Larson. During today's call, we will discuss ITW's first quarter financial results and provide an update on our outlook for full year 2025. Slide 2 is a reminder that this presentation contains forward-looking statements. We refer you to the company's 2024 Form 10-K and subsequent reports filed with the SEC for more detail about important risks that could cause actual results to differ materially from our expectations. This presentation uses certain non-GAAP measures, and a reconciliation of those measures to the most directly comparable GAAP measures is contained in the press release. please turn to slide three, and it's now my pleasure to turn the call over to our President and CEO, Chris O'Harely. Chris? Thank you, Erin, and good morning, everyone. As you saw in our press release this morning, ITW delivered a solid start to the year as we outperformed our underlying end markets with flat organic growth on an equal days basis in a steady demand environment. We continue to execute well in controlling the controllables, as enterprise initiatives contributed 120 basis points to operating margins of 24.8%. In addition, GAAP EPS of $2.38 came in ahead of our plan expectations. Importantly, we continue to make progress on our next phase key strategic priorities as we remain laser-focused on building above-market organic growth fueled by customer-backed innovation into a defining ITW strength. on par with our world-class financial and operational capabilities. As we've said many times before, ITW is built to outperform in uncertain an...