The 2020 Mid-Year Economic Update_long

Illinois Tool Works Sales Up 3.5% in 2Q

Year-to-date sales up 3.9 percent year-over-year.

Illinois Tool Works Inc. (NYSE: ITW), Glenview, IL, reported sales for the second quarter of $3.7 billion, up 3.5 percent year-over-year, with organic sales up 1.4 percent. Profit increased to $1.5 billion from $465 million in the second quarter of 2013.

North America organic sales increased 1 percent, while European and Asia Pacific organic sales grew 1 percent and 7 percent, respectively.

Automotive OEM organic sales grew 8 percent, with growth of 8 percent in North America, 9 percent in Europe and 22 percent in China. Food equipment organic sales grew 3 percent, due to growth in equipment and service in North America, as well as increased equipment sales internationally. Construction products organic sales grew 0.4 percent.

Year-to-date sales were $7.3 billion, up 3.9 percent over the prior-year period. Profit increased to $2 billion from $819 million in the first half of 2013.

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