ITW reported Automotive OEM sales, including fasteners, rose 2.5% to $816 million in the first quarter of 2024. Segment operating income grew 26.5% to $162 million, while margin improved 370 basis points to 19.8%.

Construction Products sales, including fasteners, dropped 7.3% to $488 million. Segment operating income fell 1.3% to $143 million, while margin rose 190 basis points to 29.7%.

Consolidated ITW revenue slipped 1% to $4 billion in Q1, Operating income increased 16% to $1.13 billion, while operating margin improved 420 basis points to 28.4%.

“We expect current levels of demand across our end markets and favorable year-over-year comparisons will translate to positive organic growth through the balance of the year,” stated CEO Christopher A. O’Herlihy. Web: itw.com