ITW Reports First Quarter 2015 Financial Results
-Diluted EPS of $1.21, up 20 percent
-Operating margin of 20.9 percent up 220 basis points; Enterprise Initiatives contributed 100 basis points
-Share repurchases of $1.6 billion in the first quarter
-Company updates full-year guidanceGLENVIEW, Ill., April 21, 2015 (GLOBE NEWSWIRE) — Illinois Tool Works Inc. (NYSE:ITW) today reported first quarter 2015 diluted earnings per share (EPS) from continuing operations of $1.21, which is 20 percent higher than the year-ago period. Reported EPS was $0.04 above the midpoint of company guidance despite $0.03 of incremental negative currency translation impact vs. the exchange rates in effect at the time the Company issued guidance for the first quarter 2015 on January 27, 2015. Organic revenue growth was up 1 percent in the quarter, reflecting lower demand in some of the company’s equipment-related businesses and ongoing product line simplification (PLS) activities.(…)
