ITT reports Q4 adjusted EPS $1.29, consensus $1.24

Reports Q4 revenue $774.6 M, consensus $766.92M. "Our results this quarter and throughout 2022 have shown the resilience of our ITTers and our business model. During an unpredictable time, our team’s focus on our customers never wavered, which drove strong orders growth across all businesses. Our commercial actions to drive share gains and price recovery, coupled with productivity, led to a record segment operating margin in Q4. We overcame more than $200M of cost inflation, significant foreign currency headwinds and the loss of business in Russia in 2022, and delivered on our original revenue and adjusted earnings per share guidance. We deployed over $600M of capital for the year, including for the acquisition of Habonim, a specialty valves manufacturer which expanded the Industrial Process portfolio and provided strong returns in its first year. As a result of all our achievements, we’re entering 2023 with a solid foundation for growth and value creation and a record backlog. I remain confident in our ability to reach our long-term financial and sustainability targets," said CEO Luca Savi.