GLENVIEW, IL – Illinois Tool Works reported second quarter revenue for its test and measurement and electronics unit of $554 million, up 6.7% year-over-year.

For the quarter ended June 30, operating income for the business segment that includes Kester and ITW EAE was $131 million, an increase of 15%.

ITW posted total revenue for the quarter of $3.8 billion, up 7% year-over-year. Operating income was $932 million, an increase of 7% compared to the second quarter of 2017.

“ITW delivered another strong quarter with good growth momentum and excellent operational execution,” said Scott Santi, chairman and CEO. “The company’s ability to overcome near-term inflationary and currency challenges and generate 4% organic revenue growth, core operating earnings growth of 9%, core EPS growth of 19%, and continue to expand margins is a direct result of the strength and resilience of the ITW business model and the dedicated team of ITW professionals around the world who leverage it to serve our customers and execute our strategy with excellence each and every day.”

All seven of the company’s business segments delivered positive year-over-year organic revenue growth. Organic growth of 4% was driven by 5% growth in North America.

In the second quarter, free cash flow was $533 million, up 38%. The company repurchased $500 million of its own shares.

For the third quarter, the company expects revenue up 2% to 3%.

Register now for PCB WEST, the leading trade show for the printed circuit design and electronics manufacturing industry! Coming Sept. 11-13 to the Santa Clara Convention Center.

• Prev
• Next