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Illinois Tool Works (ITW) investor relations material
Illinois Tool Works Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record Q2 financial performance with GAAP EPS of $2.58 (up 2% YoY), revenue of $4.1B (up 1% YoY), and operating margin of 26.3%.
Enterprise initiatives and pricing actions offset tariff impacts and drove margin expansion.
Strategic progress on innovation and portfolio resilience supports long-term growth.
Share repurchases totaled $375M in Q2; $1.5B planned for 2025.
Free cash flow was $449M (59% conversion), below average due to timing, but on track for 100%+ for the year.
Financial highlights
Q2 2025 revenue: $4.1B (up 1% YoY); organic growth flat; Asia Pacific up 9% (China up 15%), North America and Europe declined.
Operating income was $1.1B, up 1% YoY; margin expanded 10 bps to 26.3%.
Free cash flow: $449M in Q2; YTD: $945M (vs. $1.07B prior year).
Net income for Q2: $755M (vs. $759M prior year).
Share repurchases: $375M in Q2; $750M YTD.
Outlook and guidance
Full-year 2025 GAAP EPS guidance raised to $10.35–$10.55, up 2–4% YoY.
Revenue guidance: $16.0–$16.4B (1–3% growth); organic growth 0–2%.
Operating margin expected at 26–27%; free cash flow conversion above 100%.
$1.5B in share repurchases planned for 2025.
Guidance subject to risks from tariffs, FX, and macroeconomic volatility.
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