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In an "Executive Decision" segment, Cramer also found time to sit down with Scott Santi, chairman and CEO of Illinois Tool Works, (ITW) - Get Illinois Tool Works Inc. (ITW) Report another company that saw strong earnings this quarter, posting a nine-cents-a-share earnings beat with solid 3.5% organic growth.
Santi describer Illinois Tool as a value-added problem solver, one that operates in many niche businesses but also one that has plenty of growth ahead of it. The company recognized long ago that 80% of its revenues stem from just 20% of its product lines, which is why they now have a tight focus on serving those customers and product lines that make a difference to the bottom line.
Illinois Tool is not only generating strong results here in the U.S., Santi said that his company saw a 6% uptick in sales in Europe as well.
Santi said that his company also continues to innovate. As the skilled labor pool for welders has been drying up, Illinois Tool has been making more sophisticated tools that require less skill to operate.
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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.