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Illinois Tool Works Inc.

Q2 FY26Machinery

Illinois Tool Works Inc. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹250
Market cap₹71.8K Cr
P/E23.3
Updated29 May 2026
Read4 min read

What the Q2 FY26 call signalled

3 of 4 strong

RevenueSlow growth
MarginMargins slightly up
CapexCapex planned
Order bookOrder book rising

The short version

- ITW expects total revenue growth of 2% to 4% for 2026, with organic growth projected at 1% to 3%. - ITW raised full-year GAAP EPS guidance by $0.10 to a new range of $11.10 to $11.50, with a midpoint of $11.30, representing 8% growth year-over-year.

From Illinois Tool Works Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Slow growth
  • ITW expects total revenue growth of 2% to 4% for 2026, with organic growth projected at 1% to 3%. (Page 3 and 8)
  • All 7 segments are expected to deliver positive organic growth this year. (Pages 3 and 4)
  • Positive demand trends, especially in CapEx-related and semi-related segments like Welding and Test & Measurement, support sustainable growth. (Pages 3, 4, and 8)
  • Test & Measurement grew 10% with semiconductor-related businesses up over 15%. (Page 3)
  • Food Equipment segment expects positive organic growth and margin improvement despite early 2026 challenges. (Pages 3 and 8)

2 more points from Illinois Tool Works Inc.'s call on revenue

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Profitability & Margins

See what Illinois Tool Works Inc. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • ITW's Test & Measurement segment, particularly in semiconductors and electronics, continues investing in long-term growth strategies, including capacity expansion and new products.
  • The company highlights strong order activity in CapEx-related segments such as Test & Measurement and Welding, indicating ongoing capital investments to meet demand.
  • Enterprise initiatives, including strategic sourcing and 80/20 front-to-back activities, are contributing to margin improvements and are expected to continue driving gains through 2030, supporting operational efficiency investments.

2 more points from Illinois Tool Works Inc.'s call on capex

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Fundraising & Capital Structure

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Order Book & Pipeline

Order book rising
  • In some segments like Welding and Test & Measurement, order rates are meaningfully higher than their first-quarter organic growth rates, indicating strong pending demand.
  • Specialty Products faced delayed sales in the Middle East impacting organic growth negatively in Q1, but backlog remains significant, particularly in aerospace within Specialty Products.
  • Testing & Measurement and Semiconductor-related businesses are benefiting from increasing fab utilization and strong order activity, supporting sustainable near-term demand.
  • Overall, ITW’s current demand levels and order books provide confidence to maintain the full-year organic growth guidance of 1% to 3%.

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Frequently Asked Questions

What were Illinois Tool Works Inc. Q2 FY26 results?

- ITW expects total revenue growth of 2% to 4% for 2026, with organic growth projected at 1% to 3%. - ITW raised full-year GAAP EPS guidance by $0.10 to a new range of $11.10 to $11.50, with a midpoint of $11.30, representing 8% growth year-over-year.

What is Illinois Tool Works Inc. share price analysis?

Illinois Tool Works Inc. currently shows a neutral. The stock trades at a P/E of 23.3 with a market cap of $71,821. Investors should review the full earnings analysis for detailed insights.

Is Illinois Tool Works Inc. planning capital expenditure?

- ITW's Test & Measurement segment, particularly in semiconductors and electronics, continues investing in long-term growth strategies, including capacity expansion and new products.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.