ITW · 10-Q · 2026Q2 · Full report

Food Equipment Demand Weakness

ILLINOIS TOOL WORKS INC · 2026-08-06 · Importance 31 · Surprise 32 · Matches filing data

Food Equipment organic revenue was flat in the second quarter and declined 1.3% year to date. Equipment revenue decreased 2.4% in the quarter and 4.1% year to date, while service revenue grew 5.0% and 4.1%, respectively. North American organic revenue fell 3.5% in the quarter and 4.1% year to date, with equipment demand down 8.2% and 9.1% because of weaker institutional and independent and quick-service restaurant demand. International organic revenue grew 5.7% in the quarter and 3.1% year to date, supported by European warewashing and Asian equipment demand, partly offset by weaker European cooking and refrigeration demand.

Key facts

• Food Equipment segment operating revenue increased 1.6% in the second quarter and was $1,329 million and $1,307 million for the six months ended June 30, 2026 and 2025, respectively. source
• Food Equipment organic revenue was flat in the second quarter as equipment organic revenue declined 2.4% and service organic revenue increased 5.0%; year-to-date organic revenue declined 1.3% with equipment down 4.1% and service up 4.1%. source

Impact estimates