Illinois Tool Works Inc. (ITW) saw its stock price plummet 6.08% during intraday trading on Thursday, following the release of its first-quarter 2026 financial results.

The industrial manufacturer reported earnings that exceeded analyst expectations, with GAAP earnings per share of $2.66, a 12% year-over-year increase and above the estimate of $2.56. Revenue for the quarter climbed 5% to $4.02 billion, also slightly surpassing expectations.

However, investors reacted negatively to the company's weak organic growth of just 0.4% for the quarter, which sits at the low end of its full-year organic growth guidance range of 1% to 3%. While ITW raised its full-year 2026 GAAP EPS guidance, the midpoint of the new range matches the consensus estimate, suggesting the guidance increase was modest relative to market expectations.