Earnings Call
Jul 28, 2026
Q2 FY2026
EPS Estimate
2.79
EPS Actual
2.84
Post-Earnings Close
$295.16
Earnings Reaction
+3.6%
ITW posted its most profitable quarter in company history in Q2 2026, with operating income reaching $1.15 billion, a milestone that reflects both favorable end-market conditions and the compounding effect of years of disciplined portfolio management. Organic growth of 4.5% came in well ahead of prior expectations, driven by a powerful acceleration in CapEx-intensive segments: Welding surged 19% on equipment, Test & Measurement and Electronics grew 10% with Electronics up 21%, and Polymers & Fluids added 7%. The sequential step-up was equally striking, revenue grew 7% from Q1 to Q2 against a historical average of 2%, with every segment outperforming its typical seasonal pattern. GAAP EPS of $2.84 rose 10% year-over-year, and free cash flow expanded 41%.
Report generated on Jul 28, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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