ITT sees ‘really good’ Q3 results

While presenting at D.A. Davidson’s 23rd Annual Diversified Industrials & Services Conference, ITT executives stated, according to a transcript of the event: “So, if you if you look at the dynamic from a market standpoint, the funnel is very healthy because a lot of projects has been, have been awarded, but the funnel keeps on growing. It’s not growing as fast as it used to, but it’s still growing. So that means that the rate of replacement of those projects is very good. So that’s one thing. We expect to show significant growth in projects in Q3, as I mentioned, as well as in Q4. So, from an energy standpoint, you may remember that in Q2 — Q1 and Q2, we were down, and this was because of tough compares. We had two large decarbonization projects in Q1 and in Q2 of last year that we were unable to repeat. And as well in Q2, we had mentioned we had some delays from a project acquisition standpoint. These projects, as we were predicting, have come in. And so as a result, we’ll have, we’ll have a really good Q3 quarter.” In associated slides, the company points to Q3 mid-single digit organic revenue growth driven by all segments; an perating margin inline with Q2 with continued sequential expansion at MT; and low-single digit adjusted EPS growth, including dilution from Wolverine divestiture and M&A costs.