ITW reported Automotive OEM segment sales, including fasteners, increased 8.9% to $2.8 billion in 2021, including 5.8% organic revenue growth. Operating income totaled $545 million, with operating margin of 19.5%.

But market headwinds limited segment growth in the closing months of the year, according to CEO E. Scott Santi.

“Our Automotive OEM segment continued to be impacted by limitations on auto production due to component supply shortages,” stated Santi.

Automotive OEM segment sales in the final quarter of 2021 dropped 16.2% to $663 million, with operating income totaling $111 million and operating margin of 16.8%.

Full-year Construction Products sales, including fasteners, jumped 17.7% to $1.94 billion, including 13.6% organic growth.

Q4 Construction Products sales gained 11.6% to $480 million, with operating income totaling $124 million and an operating margin of 25.8%.

Consolidated ITW revenue grew 15% to $14.5 billion, with organic growth of 12.3%. Operating margin rose to 24.1%. Web: ITW.com