$ITW 8-K earnings — Q2 FY26

ITW reported Q2 GAAP EPS of $2.84, a 10.1% YoY increase, beating consensus by $0.12 (4.4%). Revenue of $4.30B grew 6.1% with organic growth accelerating to 4.5%, driven by double-digit growth in Welding and Test & Measurement. The company raised FY2026 GAAP EPS guidance by $0.15 to a midpoint of $11.45 and organic revenue growth guidance by 1.5 points to 3-4%. The key nuance: operating margin of 26.7% was a record, with enterprise initiatives contributing 120bps, but price-cost dynamics modestly diluted margins due to timing lags—a headwind that may ease in H2.

ITW reported Q2 GAAP EPS of $2.84, a 10.1% YoY increase, beating consensus by $0.12 (4.4%). Revenue of $4.30B grew 6.1% with organic growth accelerating to 4.5%, driven by double-digit growth in Welding and Test & Measurement. The company raised FY2026 GAAP EPS guidance by $0.15 to a midpoint of $11.45 and organic revenue growth guidance by 1.5 points to 3-4%. The key nuance: operating margin of 26.7% was a record, with enterprise initiatives contributing 120bps, but price-cost dynamics modestly diluted margins due to timing lags—a headwind that may ease in H2.