April 30, 2024 12:18 GMT
Illinois Tool Works (A1/A+): 1Q24 Results
CAPITAL GOODS
Solid results, neutral for spreads.
- Revenue missed by 1%, but organic growth marginally ahead.
- Operating income was in line excluding a one off which drove a 13% headline beat.
- Revenue growth guidance affirmed; operating margin guidance increased 0.5% (again one off driven).
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