Illinois Tool Works latches onto fastener growth after Q3 downturn — Panjiva
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Illinois Tool Works latches onto fastener growth after Q3 downturn

China 2968 Earnings 724 Industrials - Capital Goods 580 Quote Watch 452 U.S. 5314

Illinois Tool Works (ITW) experienced a 4.9% downturn in revenues in Q3’20 on weaker pandemic-related demand, but nonetheless outperformed analysts’ expectations of a 16.8% decline. U.S. seaborne imports linked to the firm only fell by 7.0% year over year in Q3’20, suggesting management confidence in its supply chain. Indeed, CEO Scott Scanti noted that the firm “operates with localized supply chains” which are “robust and ready to flex with us”. ITW remains China-centric in its sourcing with shipments from there only having declined by 1.0% year over year in Q3’20 while those from Europ...

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