Global foodservice equipment sales rose $13m for ITW during its second quarter, the company’s latest financial results reveal.
The company, which owns name-brands such as Foster, Hobart and Bonnet, announced revenue of $667m for Q2 2024, up 2% from $654m in the same period last year.
Operating income for the division fell from $182m to $180m year-over-year.
These results bring ITW’s food equipment sales to almost $1.3 billion for the first six months of the year, ending June 30, 2024.
ITW’s overall revenue for Q2 fell 2.5% year-over-year, from $4.1 billion to $4 billion.
Christopher O’Herlihy, president and CEO of ITW, said: “While the demand environment continued to moderate across our portfolio, we delivered a solid quarter with strong operational execution and profitability.
“Our ability to overcome near-term macro challenges and expand our margin and profitability to record levels as evidenced by margin improvement of 140 basis points to 26.2 percent and EPS growth of more than five percent, is a direct result of the focused execution by our team of dedicated ITW professionals around the world.”
