Core Insights - ITT Inc. reported fourth-quarter 2024 adjusted earnings of $1.50 per share, exceeding the Zacks Consensus Estimate of $1.47, marking an 11.9% year-over-year increase driven by sales growth across most segments [1][2] - Total revenues for the quarter reached $929.0 million, surpassing the consensus estimate of $927 million, and reflecting a 12% year-over-year increase [2] Financial Performance - For the full year 2024, ITT's net revenues were $3.6 billion, a 10.6% increase year over year, with adjusted earnings of $5.86 per share, up 12.5% [3] - The Industrial Process segment generated revenues of $326.0 million, a 25% year-over-year increase, supported by strong pump projects and aftermarket demand [4] - The Motion Technologies segment reported revenues of $326 million, an 11% decrease year over year, primarily due to the divestiture of the Wolverine unit [5] - The Connect & Control Technologies segment saw revenues of $241.0 million, a 37.2% year-over-year increase, driven by favorable pricing and growth in defense and industrial connectors [6] Margin and Cost Analysis - ITT's cost of revenues increased by 12.8% year over year to $612.6 million, while gross profit rose 10.6% to $316.4 million [7] - Adjusted operating income climbed 15.5% year over year to $162.8 million, with a margin expansion of 50 basis points to 17.5% [7] Cash Flow and Capital Management - At the end of the fourth quarter, ITT had cash and cash equivalents of $439.3 million, down from $489.2 million a year earlier, with short-term borrowings increasing to $427.6 million [8] - In 2024, ITT generated net cash from operating activities of $562.6 million, up from $538.0 million in the previous year, with free cash flow at $438.7 million [9] Dividend and Future Outlook - The board of directors approved a 10% increase in the quarterly dividend rate to 35.1 cents per share, payable on March 31, 2025 [10] - For 2025, ITT expects adjusted earnings in the range of $6.10-$6.50 per share, indicating a 4-11% increase from the prior year, with revenue growth projected at 2-4% [11]
ITT Beats Q4 Earnings & Revenue Estimates, Issues 2025 EPS View