Illinois Tool Works Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 28, 2021
October 28, 2021 at 08:00 am EDT
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Illinois Tool Works Inc. reported earnings results for the third quarter and nine months ended October 28, 2021. For the third quarter, the company reported sales was USD 3,556 million compared to USD 3,307 million a year ago. Net income was USD 639 million compared to USD 582 million a year ago. Basic earnings per share from continuing operations was USD 2.03 compared to USD 1.84 a year ago. Diluted earnings per share from continuing operations was USD 2.02 compared to USD 1.83 a year ago.
For the nine months, sales was USD 10,776 million compared to USD 9,099 million a year ago. Net income was USD 2,085 million compared to USD 1,467 million a year ago. Basic earnings per share from continuing operations was USD 6.61 compared to USD 4.63 a year ago. Diluted earnings per share from continuing operations was USD 6.58 compared to USD 4.61 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. 
