The 2020 Mid-Year Economic Update_long

Illinois Tool Works Sales Down 7.7% in 2Q

Profit plummets 67.8 percent to $480 million for the quarter.

Illinois Tool Works Inc. (NYSE: ITW), Glenview, IL, reported sales for the second quarter of $3.4 billion, down 7.7 percent from the second quarter last year. Profit decreased 67.8 percent to $480 million.

Construction products organic revenue increased 6 percent, automotive OEM organic revenue increased 6 percent, food equipment organic revenue increased 4 percent and welding organic revenue declined 6 percent.

For the first six months, the company reported sales of $6.8 billion, down 7 percent from the same period a year ago. Profit decreased 52.3 percent.

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