ITT (ITT) Tops Q2 Earnings Estimates

Company Performance - ITT reported quarterly earnings of $1.49 per share, exceeding the Zacks Consensus Estimate of $1.46 per share, and up from $1.33 per share a year ago, representing an earnings surprise of 2.05% [1] - The company posted revenues of $905.9 million for the quarter ended June 2024, slightly missing the Zacks Consensus Estimate by 0.13%, but up from $833.9 million year-over-year [2] - Over the last four quarters, ITT has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Stock Performance - ITT shares have increased approximately 18.6% since the beginning of the year, outperforming the S&P 500's gain of 15.8% [3] - The current Zacks Rank for ITT is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.45 on revenues of $900.48 million, and for the current fiscal year, it is $5.85 on revenues of $3.63 billion [7] - The outlook for the industry, specifically the Zacks Diversified Operations industry, is favorable, ranking in the top 16% of over 250 Zacks industries, which historically outperforms the bottom 50% by more than 2 to 1 [8]