Illinois Tool Works raises annual profit forecast on strong industrial demand

Illinois Tool Works

28/07/2026 14:14

July 28 (Reuters) - Illinois Tool Works ITW.N on Tuesday lifted its annual profit forecast above Wall Street estimates after posting a better-than-expected profit for the second quarter, driven by strong demand in its welding and industrial testing businesses.
Shares of the company rose more than 3% in premarket trading.
The industrial parts and equipment maker benefited from resilient demand for its welding, testing and specialty chemicals products even amid economic uncertainty.
The company now sees 2026 adjusted per share profit between $11.35 and $11.55, from its prior expectations of $11.10 to$11.50 per share.
Illinois Tool Works now sees annual revenue growth of 4% to 5%, compared with its previous forecast of 2% to 4%.
Its revenue in the Test & Measurement and Electronics business grew 12% to $769 million and Polymers & Fluids business rose 8.7% to $476 million from a year earlier.
Quarterly revenue for the automotive OEM segment, the biggest contributor to overall revenue, was $857 million, compared with $845 million a year ago. The segment supplies components and fasteners to automakers including Ford F.N and BMW BMWG.DE.
Its profit rose 10% to $2.84 per share in the quarter ended June 30, up from $2.58 per share a year ago. Analysts, on an average, expected a profit of $2.79 per share.
Illinois Tool Works' second-quarter revenue rose 6.1% to $4.3 billion, compared with $4.05 billion a year earlier.

 (Reporting by Aishwarya Jain and Apratim Sarkar in Bengaluru; Editing by Devika Syamnath)
 ((Aishwarya.Jain@thomsonreuters.com;))