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ITT (ITT) - 2021 Q4 - Annual Report
2022-02-16 21:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from_____ to _____ Commission File No. 001-05672 ITT INC. Incorporated in the State of Indiana 81-1197930 (State or Other Jurisdiction of Incorporation or Organization) ...
ITT (ITT) - 2021 Q4 - Earnings Call Transcript
2022-02-10 20:56
ITT Inc. (NYSE:ITT) Q4 2021 Earnings Conference Call February 10, 2022 8:30 AM ET Company Participants Mark Macaluso - Vice President, Investor Relations Luca Savi - Chief Executive Officer and President Emmanuel Caprais - Senior Vice President and Chief Financial Officer Conference Call Participants Scott Davis - Melius Research Jeff Hammond - KeyBanc Vlad Bystricky - Citigroup Joe Ritchie - Goldman Sachs Mike Halloran - Baird Nathan Jones - Stifel Bryan Blair - Oppenheimer Damian Karas - UBS Will Jelliso ...
ITT (ITT) - 2021 Q4 - Earnings Call Presentation
2022-02-10 13:54
2021 Results and 2022 Outlook February 10, 2022 Safe Harbor and Non-GAAP Disclosures 2 Safe Harbor This presentation contains "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts, but rather represent only a belief regarding future events based on current expectations, estimates, assumptions and projections about our business, future financial results ...
ITT (ITT) - 2021 Q3 - Earnings Call Transcript
2021-11-06 17:48
ITT, Inc. (NYSE:ITT) Q3 2021 Results Conference Call November 4, 2021 8:30 AM ET Company Participants Mark Macaluso - VP, IR Luca Savi - CEO, President & Director Emmanuel Caprais - SVP & CFO Conference Call Participants Scott Davis - Melius Research Emily Shu - Bank of America Mike Halloran - Baird Vlad Bystricky - Citigroup Damian Karas - UBS Bryan Blair - Oppenheimer Jeff Hammond - KeyBanc Joe Ritchie - Goldman Sachs Matt Summerville - D.A. Davidson Joe Giordano - Cowen Nathan Jones - Stifel Operator Wel ...
ITT (ITT) - 2021 Q2 - Earnings Call Transcript
2021-08-06 19:36
ITT, Inc. (NYSE:ITT) Q2 2021 Earnings Conference Call August 6, 2021 8:30 AM ET Company Participants | --- | --- | --- | |-------|------------------------|----------------------------------------------------------------------| | | | | | | Mark Macaluso - VP, IR | | | | | Luca Savi - CEO, President & Director Emmanuel Caprais - SVP & CFO | | | | Conference Call Participants | | | Joe Giordano - Cowen | Jeff Hammond - KeyBanc Capital Markets Andrew Obin - Bank of America | | | | Scott Davis - Melius Research ...
ITT (ITT) - 2021 Q1 - Earnings Call Presentation
2021-05-10 16:40
ITT Inc. Q1 2021 Results 05.07.2021 Safe Harbor This presentation contains "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business, future financial results and the industry in which we operate, and other legal, regulatory and economic developments. Th ...
ITT (ITT) - 2021 Q1 - Earnings Call Transcript
2021-05-07 19:38
ITT, Inc. (NYSE:ITT) Q1 2021 Earnings Conference Call May 7, 2021 9:00 AM ET Company Participants Mark Macaluso - VP, IR Luca Savi - CEO, President & Director Emmanuel Caprais - SVP & CFO Conference Call Participants Damian Karas - UBS Matt Summerville - D.A. Davidson & Co. Michael Halloran - Robert W. Baird & Co. Scott Davis - Melius Research Joseph Ritchie - Goldman Sachs Group John Inch - Gordon Haskett Brett Linzey - Vertical Research Partners Joseph Giordano - Cowen and Company Andrew Obin - Bank of Am ...
ITT (ITT) - 2021 Q1 - Quarterly Report
2021-05-07 18:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-05672 ITT INC. State of Indiana 81-1197930 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Iden ...
ITT (ITT) Presents At Pump, Valve & Water Systems Virtual Symposium - Slideshow
2021-03-05 15:42
ITT Inc. Gabelli 31st Annual Pump, Valve & Water Systems Symposium 02.25.2021 Emmanuel Caprais Senior Vice President and Chief Financial Officer Safe Harbor This presentation contains "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business, future fina ...
ITT (ITT) - 2020 Q4 - Earnings Call Transcript
2021-02-20 02:05
Financial Data and Key Metrics Changes - Q4 revenue decreased by 1.5% to $709 million, while segment operating income increased by 11.6% to $120 million [6] - Reported earnings per share was a net loss of $0.16, primarily due to a $137 million charge related to the termination of the U.S. pension plan [6] - Adjusted earnings per share for the full year was $1.01, showing a sequential and year-over-year increase [13] Business Line Data and Key Metrics Changes - Motion Technologies delivered over 10% organic growth, driven by strong performance in the Friction OE business, with segment margins expanding over 400 basis points to 19.5% [26][41] - Industrial Process saw a 10% organic sales decline but managed to grow margins by 90 basis points to 15.1% [27][43] - Connect and Control Technologies experienced weak demand, with sales down over 30% in aerospace and defense, but managed to achieve a book-to-bill ratio above one [20][45] Market Data and Key Metrics Changes - Friction sales in North America were up 43%, and sales in China increased by 19% [41] - Market share in North America increased by almost 400 basis points, more than 200 basis points in China, and nearly 100 basis points in Europe [17] - The company expects full-year organic sales growth of 2% to 4% in 2021, driven by continued share gains in Motion Technologies [22] Company Strategy and Development Direction - The company plans to invest approximately $100 million in capital expenditures in 2021, a 55% increase from 2020, and pursue acquisitions in core markets [24][82] - A 30% increase in dividends was announced, marking the ninth consecutive dividend increase [25] - The focus remains on operational excellence and customer centricity, with a commitment to driving performance and seeking organic and inorganic growth opportunities [37][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the economic environment and anticipates a strong performance in 2021 [11][54] - The company expects total revenue to increase by 5% to 7% in 2021, with adjusted earnings per share growth of 8% to 17% [58] - Management highlighted the importance of flexibility and agility in operations to adapt to changing market conditions post-COVID [100][101] Other Important Information - The company achieved a free cash flow of $102 million for Q4 and $372 million for the full year, with a free cash flow margin of 15% [13][28] - Significant progress was made in reducing legacy liabilities, including a successful transfer of the U.S. pension liability to a third party [29][30] - The company has increased its copper-free brake pad content from 7% in 2015 to 50% currently, mitigating exposure to copper price fluctuations [111] Q&A Session Summary Question: Can you discuss the outgrowth expectations for Friction? - Management expects to continue outperforming the market in 2021, with a forecasted growth of 10% compared to IHS's 14% [72][74] Question: What is the expected impact of temporary cost cuts in 2021? - Approximately $40 million in carryover savings is expected, with a reversal of temporary cost cuts amounting to $25 million to $30 million [76] Question: How is the company addressing inflation and price costs? - The company anticipates similar pressure from commodity prices as in 2020 but expects to mitigate this through productivity improvements [85][86] Question: What is the company's approach to capital allocation regarding dividends and buybacks? - The company prioritizes organic investments, followed by acquisitions, and then returns to shareholders through dividends and share repurchases [94][96] Question: How has the restructuring plan evolved during COVID? - The company has focused on making fixed costs variable and enhancing operational flexibility to adapt to market changes [99][101]