GLENVIEW, IL – ITW announced $696 million in Test & Measurement and Electronics revenue for the first quarter, a decrease of 0.9% from 2023's first quarter.

ITW's Test & Measurement and Electronics segment includes ITW EAE brands such as MPM, Electrovert, Vitronics, Camalot, and Despatch. As a whole, ITW saw revenue of $4 billion for the quarter, a 0.6% year-over-year decline.

"While the near-term demand environment across the majority of our segments was challenging as expected, the ITW team delivered a solid start to the year as operating income grew four percent, operating margin expanded 120 basis points to 25.4%, and EPS increased five percent to $2.44, excluding a one-time item," said Christopher A. O’Herlihy, president and CEO. "Looking ahead, 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. Combined with our strong margin and profitability performance, I am confident that ITW is on track and well positioned to deliver on our 2024 performance targets including positive organic growth of one to three percent."

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