ILLINOIS TOOL WORKS INC [ITW] has reported a net loss of $3.0 billion for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $16.1 billion
Based in GLENVIEW, Illinois, ILLINOIS TOOL WORKS INC operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, the operating revenue reached $16.1 million, showing a slight increase compared to $15.9 million in the same period in 2022 and a more substantial growth from $14.5 million in 2021.
Cost of revenue for the same periods was $9.3 million, $9.4 million, and $8.5 million, respectively. Operating income for the period amounted to $4.04 million, an improvement from $3.79 million in 2022 and $3.48 million in 2021.
Interest expenses incurred were $266, $203, and $202 million, while other income (expense) was $49 million, $255 million, and $51 million for the years 2023, 2022, and 2021, respectively.
Income before taxes for the period decreased to $3.82 million from $3.84 million in 2022 but was higher than $3.33 million in 2021. Income taxes amounted to $866 million, $808 million, and $632 million in 2023, 2022, and 2021, respectively.
The net income for the 12 months ended December 31, 2023, was $2.96 million, slightly lower than the $3.03 million reported in 2022 but higher than the $2.69 million in 2021.
The net income per share for basic and diluted calculations also saw a similar trend. The basic earnings per share were $9.77, $9.80, and $8.55, while the diluted earnings per share were $9.74, $9.77, and $8.51 for the years 2023, 2022, and 2021, respectively.
Also Read: