Illinois Tool Works Inc. (NYSE: ITW), Glenview, IL, reported sales for the third quarter of $3.4 billion, down 3.5 percent year-over-year. Profit decreased 3.8 percent to $511 million from the third quarter of 2014.
Automotive OEM organic sales grew 5 percent, with growth of 12 percent in Europe and 5 percent in North America, and down 5 percent in China. Food equipment organic sales grew 3 percent, due to 6 percent growth in North America.
Year-to-date sales were $10.1 billion, down 7.7 percent over the prior-year period. Profit decreased 41.9 percent to $1.4 billion from a year ago.