Illinois Tool Works (ITW) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Illinois Tool Works published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Illinois Tool Works reports GAAP EPS only; it publishes no adjusted EPS.
• A tornado that damaged two Welding facilities in late July reduced Q3 revenue by an estimated $40 million, according to Illinois Tool Works. It says the lost operating income was largely offset by business interruption insurance.

Source: Illinois Tool Works Q3 2026 earnings release (Form 8-K, Exhibit 99.1), October 27, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Illinois Tool Works splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Illinois Tool Works's Automotive OEM revenue was $814 million in Q3 2026, down 2% from $830 million in Q3 2025, 19% of total revenue.
• Illinois Tool Works's Food Equipment revenue was $698 million in Q3 2026, up 1% from $694 million in Q3 2025, 16% of total revenue.
• Illinois Tool Works's Test & Measurement and Electronics revenue was $819 million in Q3 2026, up 17% from $698 million in Q3 2025, 19% of total revenue.
• Illinois Tool Works's Welding revenue was $513 million in Q3 2026, up 8% from $477 million in Q3 2025, 12% of total revenue.
• Illinois Tool Works's Polymers & Fluids revenue was $477 million in Q3 2026, up 8% from $441 million in Q3 2025, 11% of total revenue.
• Illinois Tool Works's Construction Products revenue was $472 million in Q3 2026, flat on $473 million in Q3 2025, 11% of total revenue.
• Illinois Tool Works's Specialty Products revenue was $447 million in Q3 2026, down 1% from $452 million in Q3 2025, 11% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Illinois Tool Works said:

“ITW is raising its full year 2026 GAAP EPS guidance by $0.05 at the midpoint to a narrowed range of $11.45 to $11.55 per share, representing 10 percent growth at the midpoint.”

“Based on current demand levels and prevailing foreign exchange rates, the company is raising revenue growth guidance to 4.5 to 5.5 percent and reaffirming its organic growth guidance of 3 to 4 percent.”

“Operating margin is projected to be in the range of 26.5 to 27.5 percent, with enterprise initiatives contributing more than 100 basis points.”

“Free cash flow is projected to be approximately 100 percent of net income, and the company expects to repurchase approximately $1.5 billion of its own shares.”

Source: Illinois Tool Works Q3 2026 earnings release, Oct 27, 2026.

This is the company's own guidance as of Oct 27, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ITW forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP operating revenue and diluted EPS, each as first reported in that quarter's earnings release.

We do not hold a confirmed date for Illinois Tool Works's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 27, 2026

Illinois Tool Works had Q3 2026 operating revenue of $4,236 million, up 4.4% from $4,059 million. Organic growth was 3.8%, foreign currency translation added 0.3% and an acquisition added 0.3%. ITW reports seven segments, and the largest in the quarter were Test & Measurement and Electronics ($819 million), Automotive OEM ($814 million) and Food Equipment ($698 million). (Illinois Tool Works Q3 2026 earnings release, Oct 27, 2026; Illinois Tool Works Form 10-Q, Q3 2026, Oct 28, 2026)

Illinois Tool Works' growth was concentrated in its capital-spending segments. Test & Measurement and Electronics revenue rose 17.3%, with organic revenue up 15.8% on higher semiconductor and electronics demand, plus 1.8% from a business acquired on October 1, 2025 for $120 million. Welding rose 7.3% and Polymers & Fluids 8.1%. Automotive OEM fell 1.8%, Specialty Products 1.1%, and Construction Products was flat. (Illinois Tool Works Q3 2026 earnings release, Oct 27, 2026; Illinois Tool Works Form 10-Q, Q3 2026, Oct 28, 2026)

Illinois Tool Works estimates that tornado damage to two Welding facilities in late July cut Q3 revenue by about $40 million. Without it, ITW estimates Welding organic growth would have been about 15% and company organic growth about 5%. Welding equipment organic revenue grew 5.2% and consumables 10.0%. (Illinois Tool Works Q3 2026 earnings release, Oct 27, 2026; Illinois Tool Works Form 10-Q, Q3 2026, Oct 28, 2026)

By region, Illinois Tool Works' North American organic revenue grew 6.0% and Europe, Middle East and Africa fell 0.4%. In Automotive OEM, North American organic revenue fell 1.1% against North American auto builds down 5%, and European organic revenue fell 6.9%. For 2025 the United States was $7,395 million of ITW's $16,044 million operating revenue, and no single customer was more than 5% of revenue. (Illinois Tool Works Form 10-Q, Q3 2026, Oct 28, 2026; Illinois Tool Works Form 10-K, 2025, Feb 13, 2026)

Illinois Tool Works reports only GAAP EPS. Q3 2026 diluted EPS was $3.00, up 6.8% from $2.81, on net income of $855 million. Operating income was a record $1,177 million and operating margin rose 40 basis points to 27.8%, with enterprise initiatives contributing 130 basis points and price increases more than offsetting raw material costs. (Illinois Tool Works Q3 2026 earnings release, Oct 27, 2026)

The tax rate weighed on Illinois Tool Works' EPS growth. The Q3 2026 effective tax rate was 24.4%, against 21.8% a year earlier, when a $27 million net discrete tax benefit lowered it; excluding that item the year-ago rate was 24.3%. Amortization of acquisition-related intangibles reduced Q3 2026 EPS by $0.04. (Illinois Tool Works Q3 2026 earnings release, Oct 27, 2026)

Buybacks reduced Illinois Tool Works' share count. Average diluted shares were 285.3 million, against 291.7 million a year earlier. ITW repurchased $187 million of shares in Q3 and $1,312 million in the first nine months, and raised its dividend 7%, to an annualized $6.88 per share. (Illinois Tool Works Q3 2026 earnings release, Oct 27, 2026; Illinois Tool Works Form 10-Q, Q3 2026, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Illinois Tool Works gives a full-year outlook in its release. It raised 2026 GAAP EPS guidance by $0.05 at the midpoint to $11.45 to $11.55, which it says is 10% growth at the midpoint. It raised total revenue growth guidance to 4.5% to 5.5%, kept organic growth at 3% to 4%, and projects an operating margin of 26.5% to 27.5%, a tax rate of 23% to 24%, and share repurchases of about $1.5 billion. (Illinois Tool Works Q3 2026 earnings release, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover Illinois Tool Works, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Illinois Tool Works's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ITW is on is ITW a buy or a sell?, what analysts expect next is on the ITW forecast, and what the company does is on the Illinois Tool Works (ITW) stock page.

Every number on this page can be traced to a document Illinois Tool Works published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.