ITW reports slight revenue gain

GLENVIEW - Illinois Tool Works Inc. reported Tuesday its first quarter fiscal year results, including a 2% gain in revenue to $4 billion.

Operating income was $972 million, an increase of 9%, the company said.

"While the near-term economic outlook continues to be uncertain, I am confident that ITW remains well positioned to deliver best-in-class performance in any environment," said E. Scott Santi, chairman and chief executive officer.

Revenue was $3.9 million in the first quarter of 2022.

Net income was $2.34 per basic share for the quarter, as compared to $2.12 per share for the same period a year ago.