Illinois Tool Works Inc. · ITW · Next earnings

Illinois Tool Works Inc. reports Friday, Oct 23, 2026

ITW reports before market open with consensus EPS at $2.98 and revenue at $4.25B. Last quarter: ITW Q1 2026: Revenue Up 5%, EPS Beats, Guidance Raised on CapEx-Driven Growth

Reports Before market open33 days awayDate estimated Industrials

What the street expects

Consensus for the coming report
Consensus EPS $2.98 Calendar consensus
Consensus revenue $4.25B Calendar consensus
Report date Oct 23, 2026 Friday, date estimated
Session Before market open 33 days away

Where ITW left off: FY2026 Q1

Full report

ITW Q1 2026: Revenue Up 5%, EPS Beats, Guidance Raised on CapEx-Driven Growth

EPS surprise +3.5% Reported $2.66 vs $2.57
Revenue surprise +0.2% Reported $4.02B vs $4.01B
Stock move -2.9% Event window
Subsequent drift -4.2% Up to 20 sessions

Full-year GAAP EPS guidance was raised from the prior $11–$11.20 range (established with Q4 2025 results) to an $11.30 midpoint. Operating margin expansion target remains at roughly 100 bps. All seven segments are expected to post positive organic growth. The $1.5B share repurchase plan was reaffirmed, with $375M already executed in Q1. Free cash flow conversion target remains above 100%. The company maintains a 48/52 first-half/second-half EPS split assumption. Guidance sentiment moved from 'maintained' to 'raised'.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Headwinds in consumer-facing markets and slower Food Equipment margin performance.
  • Delayed sales in the Middle East and product-line simplification reducing organic growth.
  • Inflationary pressure on pricing and cost inputs, potential tariff impacts.
  • Seasonality of Q1 results and reliance on run-rate assumptions for guidance.
  • Geopolitical uncertainty (e.g., conflict with Iran) affecting demand cycles.

Questions analysts left open

  • Segment-specific growth versus original expectations, especially Food Equipment and Specialty Products.
  • Margin incremental assumptions and timing of incremental margin improvement.
  • Impact of inflation and pricing on future margins.
  • Potential effects of GLP-1 drug proliferation on restaurant demand and Food Equipment.
  • Tariff recovery and AIPA ruling implications.

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Recent ITW quarters

All ITW earnings
-2.9%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.