ITW boosts revenues 19 percent
Construction product sales climb 20.3 percent.
Illinois Tool Works Inc. reported an operating revenue increase of 19% for the three months ended April 30 versus the year-ago period.
Base revenues contributed 12% to revenue growth, while acquisitions and currency translation added 2% and 5%, respectively. The ongoing improvement in base revenue growth was due to increasing demand across a broad set of consumer and industrial end markets in both North America and internationally.
On a segment basis, Transportation had the largest increase (34.0%), followed by Industrial Packaging (25.2%), Polymers and Fluids (23.4%), Power Systems and Electronics (20.8%), Construction Products (20.3%), Decorative Surfaces (4.9%) and Food Equipment (0.7%).
The company continues to forecast second quarter 2010 diluted income per share from continuing operations to be in a range of 74 cents to 86 cents and assumes a second quarter revenue growth forecast range of 15 percent to 19 percent.
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
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