Techtronic Industries (TTI Group), parent of Milwaukee, Ryobi and other tool and equipment brands, announced its financial results for the six-month period ended June 30, 2026. It reported revenue growth of 5.9% to $8.3 billion, with Milwaukee and Ryobi growing at a combined 8.2%. The company reported net profit increasing 17.5% to $738 million.
Milwaukee business grew 10.5%, after adjusting for the planned 2025 timing impact related to the brand’s ERP system conversion in America.
Ryobi, which it called the #1 global consumer cordless tool and outdoor products brand, grew 1.7% to $1.9 billion in the first half of 2026. The company did recognize the loss of sales that might have come from Hart Tools brand, which it killed off last year, reporting that’s “about $156 million U.S. of our 2025 sales that will not repeat.”
TTI Group reported a record-high gross profit margin in the first half of 2026 driven, it said, “from the annualization of our tariff-mitigation efforts such as optimizing production, productivity gains, and supplier partnerships.”
New reporting structure
The company revised its reportable segment structure. It replaced its former business segments of “Power Equipment” and “Floorcare and Cleaning” with “Professional” and “Consumer.” The Professional segment delivered sales of $5.9 billion in the first half of 2026, an increase of 9.7% in reported currency. The Consumer segment delivered sales of $2.4 billion in the first half of 2026, a decrease of 2.5%.
Steve Richmond, TTI Group CEO, said this change “better reflects how we run the business every single day. Professional is led by Milwaukee. Consumer is led by Ryobi. Together, these core brands now represent 93% of our sales. Both delivered exactly what we expect of them in the first half of 2026.”
Noting the categorization of Milwaukee-specific sales, Richmond said that 32% of demand is in construction of “data centers, high-tech manufacturing, and power, water, gas, and telecom utilities, all supported by heavy investment in AI, reindustrialization, grid modernization, and electrification.” This is Milwaukee’s highest growth area. Second is service and maintenance, which Richmond calls, “our largest and most durable end market at 47% of demand, which tends to grow at a 10% rate. Residential and commercial services, transportation maintenance, and mining, driven by aging homes, aging commercial buildings, aging industrial facilities, and an aging vehicle fleet, all creating steady surge of retrofit, repair, and upgrade work.”
TTI will likely classify all sales of Milwaukee tools as “professional” and sales of Ryobi as “consumer.” In Power wonders how TTI can know if someone is buying a Milwaukee leaf blower for home or professional use, or the same for an Oreck vacuum, a brand TTI also owns.
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