Illinois Tool Works Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023
February 01, 2024 at 09:19 am EST
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Illinois Tool Works Inc. reported earnings results for the fourth quarter ended December 31, 2023. For the fourth quarter, the company reported sales was USD 3,983 million compared to USD 3,971 million a year ago. Net income was USD 717 million compared to USD 907 million a year ago.
Basic earnings per share from continuing operations was USD 2.39 compared to USD 2.96 a year ago. Diluted earnings per share from continuing operations was USD 2.38 compared to USD 2.95 a year ago.
Illinois Tool Works Inc. is a diversified industrial group organized around 7 families of products:
- automotive equipment (20.1% of net sales). Besides, the group proposes products for maintenance and refurbishment (coatings, sealants, shutters, etc.);
- electronic equipment (17.5%): primarily equipment of microelectronic assembly. The group also provides test and measurement equipment and software;
- equipment for industrial kitchens (16.3%): cookers, dishwasher, ovens, refrigerators, cupboards, systems of aeration, etc.;
- construction systems and materials (12.6%): 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 (11.2%);
- metallurgical equipment (10.5%): 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 (47.1%), North America (6.9%), Europe/Middle East/Africa (25.8%), Asia/Pacific (18.3%) and South America (1.9%).
ILLINOIS TOOL WORKS INC. 
