Illinois Tool Works : Q1 2026 Earnings Webcast Presentation
ITW
Published on 04/30/2026 at 11:23 am EDT
April 30, 2026
Never stronger. Never better positioned for the future.
GAAP EPS
$2.38
$2.66 +12%
Revenue
$3.84B
$4.02B
+5%
Organic growth +0.4%, FX/Acquisition +4.2%
PLS and Middle East impact ~(1)%
Enterprise initiatives contribution +120 bps
Solid progress on Customer-Back Innovation
Q1'25 Q1'26
- Share repurchases of $375M
Operating Margin 24.8%
25.4%
+60 bps
Operating Income $951M $1.02B +7%
- Effective tax rate of 20.6%
ITW DELIVERED A SOLID START TO THE YEAR WITH REVENUE +5% AND GAAP EPS +12%
* See ITW's Q1'26 press release for the reconciliation from GAAP to non-GAAP measures
Never stronger. Never better positioned for the future. 3
CONTRIBUTION TO OPERATING MARGIN
+110 bps
+90 bps
+130 bps +130 bps +130 bps +120 bps
+4%
21.0% +170 bps
2021 2022 2023 2024 2025 Q1'2026
Q1'25 Q1'26
Q1'25 Q1'26
19.3%
$820M
$786M
Revenue Operating Margin
On track for positive margin impact of ~100 bps in 2026, independent of volume
Continued contribution from Enterprise Initiatives through 2030
- 80/20 FTB
- Strategic Sourcing
Organic revenue (1)%
North America (5)%
Europe flat
China (3)%
$637M
$627M
+2%
26.5%
24.7%
(180) bps
$715M
$652M
+10%
21.4%
22.9%
+150 bps
Q1'25 Q1'26
Q1'25 Q1'26
Q1'25 Q1'26 Q1'25 Q1'26
Revenue Operating Margin
Revenue Operating Margin
Organic revenue (3)%
Equipment (6)%, Service 3%
North America (5)%
International flat
Organic revenue 5%
Test & Measurement 1%
Electronics 10%
$472M $507M
+7%
32.5%
32.1%
(40) bps
$452M
$429M
+5%
26.5%
28.0%
+150 bps
Q1'25 Q1'26
Revenue
Q1'25 Q1'26
Operating Margin
Q1'25 Q1'26 Q1'25 Q1'26
Revenue Operating Margin
Organic revenue 6%
Equipment 8%, Consumables 2%
North America 8%
International (6)%
Organic revenue 2%
Automotive Aftermarket 3%
Fluids flat
Polymers flat
$443M $458M
+3%
29.2%
29.4%
+20 bps
$435M $431M
(1)%
30.9%
31.3%
+40 bps
Q1'25 Q1'26
Q1'25 Q1'26
Q1'25 Q1'26
Q1'25 Q1'26
Revenue
Operating Margin
Revenue Operating Margin
Organic revenue (1)%
North America flat
Europe (3)%
Australia/New Zealand (2)%
Organic revenue (5)%
- PLS and Middle East Impact ~(3)%
North America (6)%
International (2)%
GAAP EPS $10.49
$16.0B
Revenue
$11.10 - $11.50
$16.3 - $16.6B
+6 - 10%
+2 - 4%
+1 - 3%
Organic
Positive demand trends in capex-related segments
Solid progress on Customer-Back Innovation
Enterprise initiatives contribution of ~100 bps
All seven segments projected to expand margins
2025 2026E
- Share repurchases of ~$1.5B
Operating Margin 26.3%
26.5 - 27.5%
- Projected effective tax rate of 23 to 24%
After-tax ROIC* 29.3% 30%+
ON TRACK TO DELIVER ROBUST FINANCIAL PERFORMANCE IN 2026
Never stronger. Never better positioned for the future. 8
* See ITW's Q1'26 press release for the reconciliation from GAAP to non-GAAP measures.
Q&A
Never stronger. Never better positioned for the future. 9
Never stronger. Never better positioned for the future.
Disclaimer
Illinois Tool Works Inc. published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 15:22 UTC.