ITW’s revenue of $3.5 billion in the third quarter of 2019 declined by 3.7% compared to the prior-year quarter.
Illinois Tool Works Inc. recently reported its results for the third quarter of 2019. Revenue of $3.5 billion was down 3.7% compared to the 2018 quarter, with an unfavorable foreign currency translation impact of 1.8% and a decline in organic revenue of 1.7%.
The company’s ongoing Product Line Simplification (PLS) activities reduced organic growth by 60 basis points. The third quarter 2019 benefited from one extra shipping day vs. the prior year. Adjusting for this impact, organic revenues declined 3.2% on an equal day basis vs. a decline of 2.8% in the second quarter.