4/20/2016 12:34:00 PM
NEWS BRIEFS
ITW Fastener Segments Report Sales & Profit Gains
ITW reported both organic revenue and operating margin improved in the company’s two segments that include fastener operations.
Automotive OEM segment revenue, including fasteners, rose 2.7% to $656 million in the opening quarter of 2016. Segment operating income reached $173 million with an operating margin of 26.4%.
Construction Products segment organic revenue, including fasteners, gained 4.9% to $381 million in Q1. Segment operating income totaled $81 million with an operating margin of 21%.
ITW consolidated organic revenue in Q1 grew 1% to $3.27 billion, with North America increasing 2% and International declining 1%. The company said consumer-facing businesses grew 3% and Industrial-facing businesses declined 3%.
Operating income increased 3.6% to $722 million and net income grew 2.2% to $468 million.
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Related Links:
• ITW
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