ITT (ITT) came out with quarterly earnings of $1.46 per share, beating the Zacks Consensus Estimate of $1.43 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.10%. A quarter ago, it was expected that this supplier of parts and services to a wide variety of industries would post earnings of $1.46 per share when it actually produced earnings of $1.49, delivering a surprise of 2.05%.O ...

Exhibit 99.1 https://files.reportify.c ITT REPORTS 2024 THIRD QUARTER EARNINGS PER SHARE (EPS) OF $1.96, ADJUSTED EPS OF $1.46 ▪ 17% orders growth (14% organic) driven by pump project awards, rail share gains and connectors demand ▪ 8% revenue growth (6% organic) driven by strength across all segments ▪ 610 basis points operating margin expansion to 23.5%, including $48 million preliminary gain on divestiture of Wolverine Advanced Materials (Wolverine); 60 basis points adjusted operating margin expansion to ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, the Zacks Growth Style Score (part of the Zacks Style Score ...

ITT Inc. (ITT) is well-poised for growth, courtesy of strength across its businesses and accretive acquisitions. The company remains focused on innovating new products, which is also driving growth. Headquartered in New York, ITT is a global leader in multiple high-technology engineering and manufacturing industries. It engages in the design, manufacture and sale of a wide range of engineered products and services. Over the past year, this Zacks Rank #3 (Hold) company has gained 55.7% compared with the indu ...

ITT Inc. (ITT) recently completed the acquisition of kSARIA Parent, Inc. (kSARIA). The transaction, valued at approximately $460 million, will be paid using a new term loan and the company's current cash. This deal was announced in August 2024. Based in Hudson, NH, kSARIA is engaged in designing and manufacturing high-quality cable management and protection solutions. The company also provides comprehensive turnkey installation services for fiber optic and electrical cable systems, specifically tailored for ...

ITT Inc. (ITT) ITT is benefiting from strength across its segments. The IP segment is gaining from growth in pump projects in the energy, mining and decarbonization markets. Strength in the general industrial end market is aiding the segment's aftermarket business. The acquisition of Svanehøj also bodes well for the segment. Growth in component and connector sales within the aerospace and defense markets is aiding the CCT segment. The acquisition of Micro Mode augurs well for the segment. Solid momentum in ...

11 blackred Investment Thesis ITT Inc. (NYSE:ITT) has good revenue and margin growth prospects moving forward. Despite the tough macroeconomic environment, the company's revenue growth is expected to benefit from continued market share gain in the Motion Technology business, the decarbonization megatrend helping the Industrial Process segment, and the Connect and Control Technologies segment benefiting from strong demand in the Aerospace end market driven by healthy air travel demand (commercial aerospace) ...

ITT Inc.'s (ITT) second-quarter 2024 adjusted earnings of $1.49 per share surpassed the Zacks Consensus Estimate of $1.46. The bottom line jumped 12% year over year, aided by an increase in sales across each of its segments. Total revenues of $905.9 million narrowly missed the consensus estimate of $907 million. However, the top line increased 8.6% year over year, buoyed by higher friction original equipment volume and aftermarket demand in the Motion Technologies segment. Also, short cycle demand in the In ...

Financial Data and Key Metrics Changes - The company reported a 9% revenue growth compared to Q2 2023, driven by higher volumes across all segments and the acquisition of Svanehoj, which contributed 4 percentage points to growth [5][20] - Adjusted EPS grew by 12% to a record $1.49, with significant acceleration in free cash flow [4][20] - The company achieved a 100 basis point margin expansion to 18%, with Motion Technologies and CCT reaching margins close to 19% [6][19] Business Line Data and Key Metrics Changes - CCT experienced double-digit organic growth, driven by industrial connectors and aerospace and defense components, with connectors growing 14% [5][18] - Motion Technologies grew 6% organically, with Friction outperforming by over 600 basis points [6][18] - IP orders were up slightly due to Svanehoj, with legacy pump project orders increasing by 9% sequentially [11][18] Market Data and Key Metrics Changes - The company noted strong performances in aerospace and defense, Friction, and industrial connectors, with significant growth in China [4][6] - The automotive segment is expected to represent only 30% of the total ITT portfolio following recent divestitures [8] Company Strategy and Development Direction - The company is focused on reshaping its portfolio towards higher growth and higher-margin businesses, as evidenced by the acquisition of kSARIA and the divestiture of non-core automotive operations [7][8][15] - The acquisition of kSARIA is expected to enhance ITT's position in the defense and aerospace markets, with a strong growth outlook supported by leading positions on sought-after A&D programs [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance despite the impact of the Wolverine divestiture, citing strong performance in Q2 [9][20] - The company anticipates continued organic revenue growth in the mid-single-digit range across all segments for the third quarter [24] Other Important Information - The company announced the acquisition of kSARIA for approximately $475 million, which is expected to close by the end of September [7][16] - The company repurchased $79 million of its shares and paid down nearly $40 million of debt in Q2 [17] Q&A Session Summary Question: Can you elaborate on the kSARIA deal and its fit with the existing A&D interconnection business? - Management highlighted the strategic fit of kSARIA with ITT's existing capabilities and the strong relationship built over time, indicating that kSARIA's operations are well-run and aligned with ITT's standards [29][30] Question: What are the growth expectations for kSARIA? - The company expects kSARIA to achieve high single-digit growth over the next three to four years, reflecting a more realistic outlook compared to its historical growth rates [53] Question: What is the revenue base for Wolverine? - Wolverine's revenue is approximately $160 million on a yearly basis [52] Question: How is the aerospace supply chain performing? - Management noted improvements in supplier management and on-time delivery, although end customer demand remains volatile [81]

For the quarter ended June 2024, ITT (ITT) reported revenue of $905.9 million, up 8.6% over the same period last year. EPS came in at $1.49, compared to $1.33 in the year-ago quarter. The reported revenue represents a surprise of -0.13% over the Zacks Consensus Estimate of $907.12 million. With the consensus EPS estimate being $1.46, the EPS surprise was +2.05%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectation ...