The 2020 Mid-Year Economic Update_long

Illinois Tool Works Sales Up 3.5% in 3Q

Year-to-date sales up 3.8 percent year-over-year.

Illinois Tool Works Inc. (NYSE: ITW), Glenview, IL, reported sales for the third quarter of $3.7 billion, up 3.5 percent year-over-year, with organic sales also up 3.5 percent. Profit increased to $531 million from $452 million in the third quarter of 2013.

North America organic sales increased 4 percent, while European and Asia Pacific organic sales grew 3 percent and 5 percent, respectively.

Automotive OEM organic sales grew 8 percent, with growth of 8 percent in North America, 9 percent in Europe and 12 percent in China. Food equipment organic sales grew 5 percent, due to growth in equipment and service internationally. Construction products organic sales grew 1.1 percent.

Year-to-date sales were $11 billion, up 3.8 percent over the prior-year period. Profit increased to $2.5 billion from $1.3 million in the first half of 2013.

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