ITW reported Automotive OEM revenue, including fasteners, declined 4.7% to $744 million in the third quarter of 2019, which included an organic sales decline of 2.3%. Segment operating income totaled $164 million, while operating margin increased 60 basis points to 22.1%.

During the first nine months of 2019, Automotive OEM revenue dropped 8.7% to $2.34 billion, which included an organic sales decline of 5.4%. Segment operating income totaled $505 million and operating margin decreased 120 basis points to 21.6%.

Construction Products revenue, including fasteners, declined 3.6% in Q3 to $416 million, with operating income totaling to $105 million and margins down 70 basis points to 25.1%.

Nine-month Construction Products revenue fell 4.8% to $1.24 billion, with operating income totaling to $298 million and margins down 20 basis points to 24%.

Overall ITW revenue fell 3.7% to $3.5 billion in Q3, with organic revenue down 1.7%. Operating margin totaled 25%, while operating income declining 2.3% to $868 million.

“While the demand environment continued to moderate across a broad cross section of our portfolio, we delivered another solid quarter with excellent operational execution,” stated CEO E. Scott Santi.

Nine-month consolidated revenue fell 4.9% to $10.64 billion, with operating income dropping 5.3% to $2.46 billion. Web: ITW.com