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Illinois Tool Works ITW Q2 2026 earnings

Reported July 28, 2026 · Before market open

Revenue$4.3BBeat by $111.7M
EPS$2.84Beat by $0.05
Revenue estimate$4.2B
EPS estimate$2.79
“Our results reflect a meaningful acceleration in our capex-related segments, led by double-digit organic growth in Welding and Test & Measurement and Electronics, alongside strong performance in Polymers & Fluids. As we advance our enterprise strategy priorities, we remain well-positioned to drive consistent, above-market organic growth powered by increased contribution to revenue growth from Customer-Back Innovation while further expanding profitability and margins. As a result of our strong operational momentum, we are raising both top-and bottom-line guidance for the full year”
Christopher A. O'Herlihy

Next report

Oct 23, 2026 (In 2 weeks)
Revenue estimate$4.3B
EPS estimate$2.96

Financials

Q2 2026

Income statement

See full
Revenue$4.3B+6.1%
Gross profit$1.9B+6.5%
Operating income$1.1B+7.4%
Net income$815.0M+7.9%
EPS (diluted)$2.84+10.1%

Balance sheet

See full
Cash & equivalents$839.0M+6.5%
Total debt$9.7B+26.0%
Total assets$16.5B+2.8%

Cash flow

See full
Operating cash flow$723.0M+31.5%
CapEx$92.0M-8.9%
Free cash flow$631.0M+40.5%

Valuation & ratios

Valuation

as of 10/02/26
See full
Market cap$74.29B-2.3%
Enterprise value$83.14B+0.5%
P/E23.3×-1.9×
P/S4.5×-0.3×

Profitability

See full
Gross margin44.2%+0.4pp
Operating margin26.5%+0.5pp
Net margin19.4%-1.9pp
FCF margin17.7%+0.5pp

Returns & leverage

See full
Current ratio1.1×-0.5×

Segments

By segment

See full
Automotive OEM$857.0M+1.4%
Test & Measurement and Electronics$769.0M+12.1%
Food Equipment$692.0M+1.8%
Welding$549.0M+14.6%
Construction Products$494.0M+4.4%

FAQ

When did Illinois Tool Works report Q2 2026 earnings?
Illinois Tool Works (ITW) reported Q2 2026 earnings on July 28, 2026 before market open.
What were Illinois Tool Works's Q2 2026 revenue and EPS?
Illinois Tool Works reported revenue of $4.3B and eps of $2.84 for Q2 2026.
Did Illinois Tool Works beat estimates in Q2 2026?
Revenue beat the consensus estimate of $4.2B by $111.7M. EPS beat the consensus estimate of $2.79 by $0.05.
How did Illinois Tool Works's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.1% from $4.1B a year earlier and eps grew 10.1% from $2.58.
Where can I find Illinois Tool Works's Q2 2026 SEC filings?
You can read the 8-K earnings release (0000049826-26-000047) and the 10-Q periodic report (0000049826-26-000049) directly on SEC EDGAR. The filing index links above go to sec.gov.