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Company research15 Apr 2024
The Industrial Machinery, Supplies, and Components Industry
Explore the industrial machinery industry's growth, driven by technology, sustainability, and digital transformation, impacting global economic development.
Illinois Tool Works
Illinois Tool Works (ITW) investor relations material
Illinois Tool Works Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary27 Oct, 2026
Executive summary
Q3 revenue was $4.236B, up 4.4% YoY; organic growth was 3.8%, or ~5% excluding the Welding tornado impact.
Operating income reached a quarterly record of $1.177B, up 5.9%; operating margin expanded 40 bps to 27.8%, and diluted EPS rose 6.8% to $3.00.
Demand accelerated in Test & Measurement and Electronics and Welding; Polymers & Fluids also grew, supported by stronger new-product contributions.
Financial highlights
Q3 organic revenue grew 3.8%; currency translation and acquisitions each contributed 0.3% to reported growth.
Net income was $855M versus $821M YoY; Q3 operating margin rose 40 bps, with enterprise initiatives contributing 130 bps.
Operating cash flow was $953M and free cash flow was $851M, equal to 100% of net income; nine-month free cash flow was $2.010B versus $1.849B.
After-tax ROIC was 30.3%, up 50 bps YoY; nine-month diluted EPS was $8.49 versus $7.77.
Outlook and guidance
FY26 revenue growth guidance rose to 4.5%-5.5%, while organic growth guidance remained 3%-4%; implied Q4 organic growth is 5%+.
FY26 GAAP EPS guidance increased $0.05 at the midpoint to $11.45-$11.55, implying 10% YoY growth at the midpoint.
FY26 operating margin guidance is 26.5%-27.5%; enterprise initiatives are expected to contribute 100+ bps, and FCF conversion is projected at ~100% of net income.
FY26 share repurchases are projected at ~$1.5B; the expected tax rate is 23%-24%.
The long-term framework targets 4%+ organic growth through 2030, driven by Customer-Back Innovation, market growth and share gains.
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Latest events from Illinois Tool Works
- Record revenue and earnings growth met late-year market weakness and a cautious 2001 outlook.ITW
Q4 2000 - Recession drove lower 2001 earnings, while $1.245B in free cash supported recovery plans.ITWQ4 2001
- Operating income rebounded, but reported net income absorbed a $221.9M accounting impairment.ITWQ4 2002
- Cost savings and currency drove higher 2003 earnings despite soft base markets.ITWQ4 2003
- FY04 growth lifted EPS to $4.39; FY05 guidance anticipates modest market slowing.ITWQ4 2004
- Manufacturing growth drove FY 2005 earnings; FY 2006 diluted EPS guidance is $5.60–$5.78.ITWQ4 2005
- FY06 earnings and margins improved; FY07 diluted EPS guidance is $3.27–$3.39.ITWQ4 2006
- Revenue and income grew, but acquired-business mix compressed operating margin.ITWQ4 2007
- Recession cut FY 2009 revenue and operating income sharply; 2010 outlook pointed to modest market expansion.ITWQ4 2009
- Acquisitions lifted revenue, but recession-driven weakness cut margins and dimmed the 2009 outlook.ITWQ4 2008
Next Illinois Tool Works earnings date
Q4 20261 Feb, 2027
Illinois Tool Works
Next Illinois Tool Works earnings date
Q4 20261 Feb, 2027
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Frequently asked questions
Illinois Tool Works, Inc. is a diversified manufacturer of highly engineered industrial and consumer products. The company has seven segments organized in six primary operating groups: automotive OEM, food equipment, polymers & fluids, test and measurement & electronics, welded components and construction products.