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Mixed Signals For Illinois Tool Works: Q1 Profit Soars, Revenue Stumbles

Illinois Tool Works Inc. (NYSE:ITW) shares are trading lower after the company reported first-quarter FY24 revenue of $3.97 billion, missing the consensus of $4.03 billion.  Revenue declined 1% Y/Y as organic growth fell by 0.6%, with foreign currency translation impact reducing revenue by 0.4%. GAAP EPS totaled $2.73, and Adjusted EPS totaled $2.44, beating the consensus of $2.36. The operating income increased 16% Y/Y to $1.13 billion, and the operating margin came in at 28.4%, ...