Business

ITW reports full year financial results

Posted February 01, 2023 10:00 pm

GLENVIEW - Illinois Tool Works Inc. Thursday reported its fourth quarter and full year 2022 financial results, including revenue of $15.9 billion, an increase of 10%.

For the fourth quarter, revenue was $4 billion, an increase of 8%.

For the year, the company reported profit of $3.03 billion, or $9.77 per share.

"We delivered a robust finish to a strong year of differentiated execution and performance by the ITW team. Fourth quarter organic growth was 12%, operating margin was 24.8%, and earnings per share increased 21% excluding divestiture gains," said E. Scott Santi, chairman and chief executive officer. We were very pleased with both our revenue growth and margin performance in the fourth quarter as we delivered eight percent overall revenue growth and a 210-basis point operating margin improvement."

ITW is a Fortune 200 multi-industrial manufacturing company with independent businesses in seven industrial segments, employing 46,000 people.

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