Illinois Tool Works Inc. (ITW) reported Q2 EPS of $2.58 and revenues of $4.05B, beating estimates. Segment gains in Automotive OEM, Welding, and Food Equipment offset declines in Construction Products. ITW raised its 2025 EPS outlook, expects 100%+ free cash flow conversion, and $1.5B in share buybacks. The company’s cost of sales increased 0.4%, with an operating margin of 26.3%. Cash and equivalents were $788M, with long-term debt at $7.7B. ITW projects free cash flow to exceed 100% of net income, with an effective tax rate around 24%. Other companies like Dover Corp. and Packaging Corp. also reported positive earnings.

Read more at Zacks Investment Research: Illinois Tool Tops Q2 Earnings Estimates, Raises 2025 View – July 30, 2025