ITT reports Q2 adjusted EPS $1.49, consensus $1.46

Reports Q2 revenue $905.9M, consensus $916.55M. “Once again, ITT delivered a strong performance in the second quarter, growing EPS both year-over-year and sequentially, driven by 9% sales growth with each segment contributing. Our focus on profitable growth generated 60 basis points of margin expansion whilst free cash flow improved sequentially by more than $100M…In total, over the past two years, we have committed over $1B towards acquisitions. On top of that, in Q2 we repurchased $79M of ITT shares and paid down nearly $40M of debt. With our strong execution, portfolio actions and effective capital deployment, we continue to grow our core businesses and enhance the ITT portfolio further through M&A,” said CEO.