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Illinois Tool Works Management Discusses Q2 2012 Results - Earnings Call Transcript

Illinois Tool Works (ITW)

Q2 2012 Earnings Call

July 24, 2012 10:00 am ET

Executives

John L. Brooklier - Vice President of Investor Relations

David B. Speer - Chairman and Chief Executive Officer

Ronald D. Kropp - Chief Financial officer and Senior Vice President

Analysts

Stephen E. Volkmann - Jefferies & Company, Inc., Research Division

Ann P. Duignan - JP Morgan Chase & Co, Research Division

Robert Wertheimer - Vertical Research Partners Inc.

Jamie L. Cook - Crédit Suisse AG, Research Division

Andy Kaplowitz - Barclays Capital, Research Division

Deane M. Dray - Citigroup Inc, Research Division

Walter S. Liptak - Barrington Research Associates, Inc., Research Division

Henry Kirn - UBS Investment Bank, Research Division

Robert F. McCarthy - Robert W. Baird & Co. Incorporated, Research Division

Nigel Coe - Morgan Stanley, Research Division

Eli S. Lustgarten - Longbow Research LLC

Presentation

Operator

Good morning, and thank you for standing by. [Operator Instructions] This conference is being recorded. If you have any objections, you may disconnect at this time. I would now like to turn the call over to John Brooklier. You may begin.

John L. Brooklier

Thank you, Kathy. Good morning, everyone, and welcome to ITW's second quarter 2012 conference call. As is our normal practice, our CEO, David Speer; and CFO, Ron Kropp, have joined me to discuss our Q2 financial results, as well as update us on our longer-term strategic initiatives.

Here's a quick agenda for today's call. David will shortly provide a brief update on our ongoing long-term initiatives, as well as second quarter highlights and commentary on our second half forecast. Ron will cover our Q2 financial results in more detail. I will then talk about our Q2 geographic performance and segment results. I will then come back and provide a detailed update on our Q3 and full year forecast. Finally, we will open the call to your questions. [Operator Instructions] As normal, we have scheduled 1 hour for today's call.

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