Illinois Tool Works Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 03, 2022 at 08:00 am EDT
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Illinois Tool Works Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 3,939 million compared to USD 3,544 million a year ago. Net income was USD 662 million compared to USD 671 million a year ago. Basic earnings per share from continuing operations was USD 2.12 compared to USD 2.12 a year ago. Diluted earnings per share from continuing operations was USD 2.11 compared to USD 2.11 a year ago.
Illinois Tool Works Inc. is a diversified industrial group organized around 7 families of products:
- automotive equipment (18.6% of net sales). Besides, the group proposes products for maintenance and refurbishment (coatings, sealants, shutters, etc.);
- electronic equipment (17.7%): primarily equipment of microelectronic assembly. The group also provides test and measurement equipment and software;
- equipment for industrial kitchens (15.3%): cookers, dishwasher, ovens, refrigerators, cupboards, systems of aeration, etc.;
- construction systems and materials (13.3%): powder and gas nailing, perforators and consumables (fuses, chisels, pads, plugs, etc.) intended for applications on wood, steel and concrete;
- polymers, coatings, resins, adhesives and lubricants (11.9%);
- metallurgical equipment (11.9%): arc welding equipment, blowtorches, welding accessories, etc.
- specialty products (11.3%): industrial packaging systems and materials, products coding and marking equipment, etc.
Net sales are distributed geographically as follows: the United States (47.8%), North America (6.9%), Europe/Middle East/Africa (24.6%), Asia/Pacific (18.7%) and South America (2%).