ILLINOIS TOOL WORKS INC — Form 8-K
Filed July 28, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Illinois Tool Works reported Q2 2026 revenue of $4.30B (+6.1% YoY), with organic growth of 4.5%, operating income of $1.15B (most profitable quarter ever), and GAAP EPS of $2.84 (+10.1%). Operating margin expanded 40 bps to 26.7%. The company raised FY 2026 guidance: organic revenue growth to 3-4% midpoint (raised +1.5 pts), GAAP EPS to $11.35-$11.55 midpoint (raised $0.15), and expects $1.5B in share repurchases. Free cash flow was $631M, up 41% YoY with 77% conversion of net income.
Why this rating
Strong Q2 execution and FY guidance raise are positive, but incremental—not transformational. Results align with expectations; 4.5% organic growth is solid but not exceptional for a $72B company. Guidance raise of 1.5 pts in organic growth and $0.15 EPS is meaningful but modest relative to company scale.
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