Filing Flows › Illinois Tool Works (ITW) › Guidance history
Illinois Tool Works (ITW) guidance history: what it guided and what it reported
Illinois Tool Works gave guidance in 12 earnings releases on file since Feb 1, 2024. Of 2 guided periods since reported, it met or beat its own guidance twice (100%). Tax rate: 2 of 2, on average -0.3 pts against the guided midpoint. Its releases raised guidance 7 times and lowered it twice.
Operating margin
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | 26.5%–27.5% (Feb 3, 2026) → reaffirmed 26.5%–27.5% (Apr 30, 2026) → reaffirmed 26.5%–27.5% (Jul 28, 2026) → reaffirmed 26.5%–27.5% (Oct 27, 2026) | — | to be reported | — |
| FY2025 | 26.5%–27.5% (Apr 30, 2025) → lowered 26.0%–27.0% (Jul 30, 2025) → reaffirmed 26.0%–27.0% (Oct 24, 2025) | — | — | — |
| FY2024 | 25.5%–26.5% (Feb 1, 2024) → raised 26.0%–27.0% (Apr 30, 2024) → raised 26.5%–27.0% (Jul 30, 2024) → reaffirmed 26.5%–27.0% (Oct 30, 2024) | — | — | — |
Tax rate
Met or beat 2 of 2 periods (0 above, 0 within, 2 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | 23.5%–24.5% (Feb 3, 2026) → lowered 23.0%–24.0% (Apr 30, 2026) → reaffirmed 23.0%–24.0% (Jul 28, 2026) → reaffirmed 23.0%–24.0% (Oct 27, 2026) | — | to be reported | — |
| FY2025 | 24.0%–24.5% (Feb 5, 2025) → lowered 24.0% (Apr 30, 2025) → reaffirmed 24.0% (Jul 30, 2025) → lowered 23.0% (Oct 24, 2025) | 22.7% | below the range | -0.3 pts |
| FY2024 | 24.0%–24.5% (Feb 1, 2024) → reaffirmed 24.0%–24.5% (Apr 30, 2024) → reaffirmed 24.0%–24.5% (Jul 30, 2024) → lowered 21.5% (Oct 30, 2024) | 21.1% | below the range | -0.4 pts |
GAAP EPS
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $11.00–$11.40 (Feb 3, 2026) → raised $11.10–$11.50 (Apr 30, 2026) → raised $11.35–$11.55 (Jul 28, 2026) → lowered $0.05 (Oct 27, 2026) | — | to be reported | — |
| FY2025 | $10.15–$10.55 (Feb 5, 2025) → reaffirmed $10.15–$10.55 (Apr 30, 2025) → raised $10.35–$10.55 (Jul 30, 2025) → reaffirmed $10.40–$10.50 (Oct 24, 2025) | — | — | — |
| FY2024 | $10.00–$10.40 (Feb 1, 2024) → raised $10.30–$10.70 (Apr 30, 2024) → lowered $10.30–$10.40 (Jul 30, 2024) → raised $11.63–$11.73 (Oct 30, 2024) | — | — | — |
Operating cash flow
Every guided period is still to be reported.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $623M (Apr 30, 2026) | — | to be reported | — |
Free cash flow
Every guided period is still to be reported.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2026 | $528M (Apr 30, 2026) | — | to be reported | — |
Adjusted EPS
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY2024 | $2.44 (Apr 30, 2024) | — | — | — |
The latest quarter
Illinois Tool Works, Q3 2026: revenue $4.2B (+4% year over year), operating margin 27.8%, net earnings $855M, operating cash flow $953M. The chart follows the revenue to costs, profit and cash.
Questions
Does Illinois Tool Works beat its guidance?
Illinois Tool Works gave guidance in 12 earnings releases on file since Feb 1, 2024. Of 2 guided periods since reported, it met or beat its own guidance twice (100%). Tax rate: 2 of 2, on average -0.3 pts against the guided midpoint.
How often does Illinois Tool Works raise guidance?
Its earnings releases raised guidance 7 times and lowered it twice since Feb 1, 2024.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.