Illinois Tool Works Inc. earnings overview

ITW FY2026 Q1 · Calendar Q2 2026

Illinois Tool Works Inc.

ITW beat consensus on both lines in Q1 2026: EPS of $2.66 versus $2.57 estimated (3.5% surprise) and revenue of $4.016B versus $4.010B estimated. Operating margin expanded 60 bps to 25.4%, and management raised full-year GAAP EPS guidance from the prior $11–$11.20 range to an $11.30 midpoint. Despite the beat-and-raise, the stock sold off — the abnormal move was -3.9% against a +1.0% benchmark on the report session, with a subsequent drift of -4.2% over the following period and volume at 3.0x baseline. The negative reaction likely reflected modest organic growth expectations embedded in the raised guidance and headwinds in consumer-facing segments. All seven segments are projected to deliver positive organic growth, with CapEx-related businesses (Welding, Test & Measurement) outpacing, while Food Equipment and Specialty Products lagged original expectations. As of July 29, 2026, the…