ITW sales decline 2 percent
Illinois Tool Works reported that total first quarter revenue was $3.3 billion, a decline of 2 percent due to the impact of foreign currency.
Organic revenue grew 1 percent as North America grew 2 percent and International declined 1 percent.
First quarter diluted earnings per share of $1.29 increased 7 percent compared to $1.21 in the year-ago period.
Five of seven segments achieved positive organic revenue growth as Construction Products grew 5 percent, Automotive OEM, Food Equipment, and Specialty Products all grew 3 percent, and Polymers and Fluids 1 percent. Welding and Test & Measurement Electronics declined by 9 and 2 percent, respectively.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
