Illinois Tool Works Shows 3rd Quarter Growth

Third quarter numbers were mixed for Glenview-based Illinois Tool Works.

Earnings were up 9 percent total with growth in its automotive OEM, food equipment and construction products but declines showed in other categories, according to the Daily Herald.

“ITW delivered another strong quarter of margin expansion and earnings per share growth,” said E. Scott Santi, chairman and chief executive officer. “In the quarter, ITW set records for operating margin and after-tax return on invested capital and grew EPS by 9 percent. In addition, free cash flow conversion was very strong at 126 percent.”

Revenue in the automotive OEM sector organic grew by 5 percent, while construction products revenue increased 4 percent.

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