Overall ITW revenue dropped 3.1% to $3.47 billion, with organic revenue down 1.6% and operating margin at 23.7%.
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“While the demand environment continued to moderate across a broad cross section of our portfolio, we delivered another solid quarter with excellent operational execution,” stated CEO E. Scott Santi.
“In the second quarter, we experienced a deceleration in demand across our portfolio relative to the demand levels we were seeing exiting the first quarter,” stated CEO E. Scott Santi.
ITW reported Automotive OEM revenue, including fasteners, fell 13.7% to $696 million in the first quarter of 2010. Segment organic revenue dropped 13% in North America, 9% in Europe and 21% in China.
Revenues, operating income and margin all down in the opening quarter of 2019.
During 2018, ITW revenue rose 3.3% to $14.8 billion, with operating margin slipping to 24.3%.
ITW's Construction Products segment reported sales and profit gains, while Automotive OEM saw sales decline.
Overall ITW revenue improved 7% to $3.8 billion in Q2, which included organic growth of 4% driven by 5% growth in North America.
“Despite lower than expected auto builds impacting our Automotive OEM segment, we delivered three percent organic revenue growth,” stated CEO Scott Santi.
ISO certified manufacturer and master distributor of non-threaded fasteners acquires the HANDI-CHEK packaged goods business of ITW Shakeproof Industrial Products.
Overall ITW revenue grew 5% to $14.3 billion in 2017, with net income down 17% to $1.69 billion and operating margin improving 190 bps to 24.4%.
Screws have been uniquely designed with a patented serrated head, T-25 star drive with Stikfit and serrated thread forms to solve common contractor challenges and enhance performance.
“Organic revenue increased 2.6% while the 2016 acquisition of Engineered Fasteners & Components (EF&C) added 3.5% to revenue,” the company stated.
Organic revenue increased 3.5%, while the 2016 acquisition of Engineered Fasteners & Components (EF&C) added 3.8% to revenue.
Results boosted by the $450 million acquisition of the global automotive Engineered Fasteners and Components business of ZF TRW.
Founded in 1912, ITW manufactures fasteners and industrial components and specialty products primarily for the auto, food and construction industries.