Business Leaders Provide Insights on Leveraging the ITW Business Model
GLENVIEW, Ill., Dec. 07, 2018 (GLOBE NEWSWIRE) — Illinois Tool Works Inc. (NYSE:ITW) will provide an update on the company’s enterprise strategy today at its annual Investor Day and provide preliminary guidance for 2019.
Chairman and CEO E. Scott Santi, Vice Chairman Chris O’Herlihy, and CFO Michael Larsen will detail ITW’s substantial progress to date and outline the company’s full-potential performance agenda for the next several years.
“We are in the midst of executing a focused and disciplined plan to leverage ITW’s powerful proprietary business model and diversified, high quality business portfolio to their full potential,” said E. Scott Santi, Chairman and CEO. “In doing so, we are strongly positioning the company to deliver continued top-tier performance for many years to come.”
Business leaders will join company management at this event and provide insights and perspectives on the competitive advantages, customer benefits and financial performance impact resulting from the application of the ITW Business Model and the company’s enterprise strategy in several ITW segments and divisions.
ITW will release preliminary 2019 guidance, expecting 2019 GAAP EPS to be in the range of $7.90 to $8.20, organic revenue growth of 2 to 4 percent, and operating margin improvement of approximately 100 basis points. The company will also reaffirm its 2018 full-year GAAP EPS guidance to a range of $7.55 to $7.65, a year-over-year increase of 15% at the mid-point.
The company will webcast today’s meeting beginning at 9 a.m. EST. The webcast is accessible via the company’s investor relations website at http://investor.itw.com. A webcast replay will be available on the site.
Forward-looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding diluted earnings per share, organic revenue growth, operating margin, free cash flow, effective tax rate and after-tax return on invested capital. These statements are subject to certain risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated. Such factors include those contained in ITW’s Form 10-K for 2017 and subsequently filed Form 10-Qs.
About Illinois Tool Works
ITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $14.3 billion in 2017. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW has approximately 50,000 dedicated colleagues in operations around the world who thrive in the company’s unique, decentralized and entrepreneurial culture.
Media Relations
Illinois Tool Works
Trisha Knych
Tel: 224.661.7566
mediarelations@itw.com
Investor Relations
Illinois Tool Works
Karen Fletcher
Tel: 224.661.7433
investorrelations@itw.com