Business

ITW revenue up 10% in first quarter

Posted April 29, 2021 11:00 pm

GLENVIEW - Illinois Tool Works Inc. reported first quarter revenue of $3.5 billion, up 10% versus the prior year period, as organic revenue grew 6%, or 8% when equalizing for one less shipping day in 2021 versus 2020. Foreign currency translation impact was favorable by 4%, the company said.

"While a number of significant issues and uncertainties remain on the path to recovery from the COVID-19 pandemic globally, I am confident that ITW is well-positioned to both seize the opportunities and deal with the challenges that lie ahead as we move through the balance of 2021," said E. Scott Santi, chairman and chief executive officer.

Six of its seven segments delivered strong growth in the quarter, led by construction products, which was up 13%, ITW said.

ITW is a Fortune 200 global, multiindustrial manufacturing company with revenues totaling $12.6 billion in 2020.

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