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    Avi • Unknown

    Avi's questions to Illinois Tool Works Inc (ITW) leadership

    Avi's questions to Illinois Tool Works Inc (ITW) leadership • Q1 2025

    Question

    An analyst named Avi asked about the expected margin progression for the year, specifically when the price/cost dynamic would be most favorable. He also questioned whether potential demand weakening would stem more from macro factors or from price sensitivity to ITW's own increases.

    Answer

    CFO Michael Larsen stated that he does not expect any unusual quarterly price/cost dynamics and that the company is better positioned to avoid a lag this time. He clarified that any potential demand risk would be entirely related to end-market conditions, not price sensitivity, as competitors face the same cost pressures and ITW's differentiation allows it to outperform its markets.

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    Avi's questions to Linde PLC (LIN) leadership

    Avi's questions to Linde PLC (LIN) leadership • Q4 2024

    Question

    Speaking for Michael Sison, Avi from Wells Fargo asked for a breakdown of the contributions from pricing versus productivity and cost management within the company's forward-looking guidance.

    Answer

    CFO Matt White explained that while Linde doesn't provide a specific split, the 10%+ EPS growth from controllable factors is roughly split 50/50 between capital allocation and management actions for guidance purposes. He stressed that the key metric is the positive local spread between price and cost inflation, which is a primary driver of long-term margin expansion and value creation.

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