ITW reported record results for the opening quarter of 2017.

Automotive OEM revenues, including fasteners, rose 26.3% to $828 million, boosted by 9% organic growth. Segment operating income totaled $202 million, with an operating margin of 24.4%.

Construction Products revenues, including fasteners, increased 2.7% to $395 million, with operating income at $89 million and operating margin of 22.5%.

Overall ITW revenue climbed 6% to $3.5 billion. Organic revenue increased 3.5%, while the 2016 acquisition of Engineered Fasteners & Components (EF&C) added 3.8% to revenue.

Q1 operating income gained 12% to $809 million, with an operating margin of 23.3%, an increase of 120 bps and an all-time record for the company. Net income grew 14.5% to $536 million.

For the second quarter of 2017, the company expects earnings in the range of $1.55 to $1.65 per share with organic growth of 2 to 4%.

ITW acquired EF&C from ZF TRW for $450 million in July 2016. EF&C operates 13 locations with a global manufacturing and engineering footprint that serves its customers in Europe, Asia, and North America. The business has 3,500 employees located in 12 countries.

ITW runs EF&C as a standalone division within its automotive OEM segment. Web: itw.com