Illinois Tool Works — Feb 5, 2025 release

to 3% excluding PLS reduction of approximately 1%-point • Enterprise initiatives contributing approximately 100 bps to margin improvement • GAAP EPS of $10.15 to $10.55 including foreign currency translation headwind of $0.30 GLENVIEW, IL., February 5, 2025 - Illinois Tool Works Inc. (NYSE: ITW) today reported its fourth quarter and full year 2024 results and initiated guidance for full year 2025. “ITW delivered a solid finish to the year as we outperformed underlying end markets, expanded operating margin by 140 basis points, generated record free cash flow, and delivered seven percent earnings per share growth in the fourth quarter,” said Christopher A. O’Herlihy, President and Chief Executive Officer. “Throughout 2024, the ITW team delivered a year of solid operational and financial performance, achieving record financial results by consistently exceeding market growth and significantly improving profitability and margins. Building on this momentum, we will continue to outperform our key end markets in 2025 as we build above-market organic growth, driven by continuous improvement in Customer-Back Innovation, into a core ITW strength. I extend my sincere gratitude to our global colleagues for their unwavering dedication to serving our customers and executing our strategy with excellence,” O’Herlihy concluded. Fourth Quarter 2024 Results Fourth quarter revenue of $3.9 billion decreased by 1.3 percent