Illinois Tool Works Q3 Earnings Miss Estimates, Lowers Guidance Due To Ongoing Automotive Industry Labor Actions

Illinois Tool Works Inc. (NYSE: ITW) reported third-quarter FY23 revenue growth of 0.5% year-over-year to $4.031 billion, missing the consensus of $4.09 billion.

The operating income increased 9% Y/Y to $1.1 billion, and the operating margin was 26.5%, an increase of 200 bps.

GAAP EPS totaled $2.55, beating the consensus of $2.46.

ITW's operating cash flow was $982 million, and free cash flow ...

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