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ITT Corp (ITT)
NYSE:ITT
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.48Last Year’s EPS
$1.34Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -1.19%
|Next Earnings Date:Feb 06, 2025
Earnings Call Sentiment|Positive
The earnings call presented a strong positive outlook for ITT, with record backlog and significant order growth across all segments. Margin expansion and EPS growth were notable, despite challenges such as FX headwinds, interest expenses, and Boeing production disruptions. The successful integration of recent acquisitions further bolstered future growth potential.Company Guidance
During ITT's Q3 2024 earnings call, the executives provided comprehensive guidance highlighting several key metrics. The company achieved 14% organic growth in orders, a 6% sequential increase from Q2, resulting in a record backlog of $1.7 billion and a book-to-bill ratio of 1.1. Organic revenue grew by 6% across all segments, contributing to a 60 basis point margin expansion, or 100 basis points excluding M&A impacts. Adjusted EPS rose by 7%, or 9% excluding the Walgreen divestiture impact. ITT also highlighted significant capital deployment of $1 billion, over four times that of 2023, and strategic acquisitions like Svanehoj and kSARIA. The executives raised the midpoint of their full-year adjusted EPS guidance by $0.05 to $5.83, despite challenges such as unfavorable FX, higher interest expenses, and acquisition amortization. Overall, ITT showcased strong performance across its legacy and newly acquired businesses, with plans to continue leveraging organic growth, strategic M&A, and enhanced pricing strategies.Record Backlog and Order Growth
Orders grew 14% organically, with a record backlog of $1.7 billion, driven by a book-to-bill ratio of 1.1. IP orders grew 30%, with pump project growth exceeding 100% for the quarter.
Strong Margin Expansion
Achieved 60 basis points margin expansion, reaching over 18% margin, with IP excluding acquisitions at 23.9% and CCT hitting 19%.
Significant EPS Growth
Adjusted EPS grew by 7%, and 9% excluding impacts from divestitures, with a full-year guidance increase to $5.83.
Successful M&A Integration
Svanehoj and kSARIA acquisitions contributed significantly to backlog and future growth, with Svanehoj achieving a book-to-bill of 1.4.
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ITT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ITT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $144.24 | $145.76 | +1.05% |
| Aug 01, 2024 | $140.85 | $138.62 | -1.58% |
| May 02, 2024 | $128.41 | $123.65 | -3.71% |
| Feb 08, 2024 | $124.59 | $118.74 | -4.70% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does ITT Corp (ITT) report earnings?
ITT Corp (ITT) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is ITT Corp (ITT) earnings time?
ITT Corp (ITT) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ITT EPS forecast?
ITT EPS forecast for the fiscal quarter 2024 (Q4) is $1.48.
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