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Operating Income by Segment
Reveals which business segments are most profitable, highlighting areas of strength and potential vulnerability in the company’s operations.ITW’s industrial portfolio shows durable operating-income recovery and margin leverage: semi-exposed Test & Measurement and Welding are the clear engines—sustained higher operating dollars tied to fab demand and new equipment drove outsized margin gains—while Automotive OEM has rebounded to pre‑pandemic profitability. Polymers & Fluids delivered steady margin expansion. Food Equipment and Specialty show lumpiness from seasonal/PLS timing but management calls these transitory. Enterprise Initiatives (≈100bps) are amplifying incremental margins and free‑cash‑flow-backed buybacks, underpinning the EPS raise despite modest organic growth.
Date | Unallocated | Automotive OEM | Food Equipment | Test Measurement | Welcing | Polymers and Fluids | Construction Products | Specialty Products |
|---|---|---|---|---|---|---|---|---|
Jun 30, 2026 | -$36.00M | $185.00M | $188.00M | $193.00M | $178.00M | $140.00M | $151.00M | $148.00M |
Mar 31, 2026 | -$33.00M | $173.00M | $157.00M | $164.00M | $163.00M | $126.00M | $135.00M | $135.00M |
Dec 31, 2025 | -$47.00M | $180.00M | $196.00M | $221.00M | $153.00M | $132.00M | $126.00M | $124.00M |
Sep 30, 2025 | -$26.00M | $182.00M | $202.00M | $177.00M | $156.00M | $126.00M | $149.00M | $146.00M |
Jun 30, 2025 | -$31.00M | $180.00M | $189.00M | $157.00M | $159.00M | $121.00M | $145.00M | $148.00M |
Mar 31, 2025 | -$37.00M | $151.00M | $166.00M | $139.00M | $153.00M | $114.00M | $130.00M | $135.00M |
Dec 31, 2024 | -$9.00M | $156.00M | $182.00M | $202.00M | $139.00M | $120.00M | $123.00M | $118.00M |
Sep 30, 2024 | -$25.00M | $150.00M | $193.00M | $179.00M | $149.00M | $125.00M | $145.00M | $136.00M |
Jun 30, 2024 | -$15.00M | $157.00M | $180.00M | $159.00M | $153.00M | $128.00M | $148.00M | $144.00M |
Mar 31, 2024 | $98.00M | $162.00M | $164.00M | $163.00M | $156.00M | $111.00M | $143.00M | $130.00M |