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ITT News
ITT Events
Company Expects 5% to 8% Organic Revenue Growth for the Year
The company said, "Thanks to strong commercial and operational performance year to date, the company now expects organic revenue growth of 5% to 8%, up 38% to 41% in total. Operating margin is expected to be between 12.8% and 13.7%, with adjusted operating margin of 20.0% to 20.9%, an increase of 60 to 150 bps versus prior year. EPS is expected to be $4.47 to $4.67, with adjusted EPS of $8.12 to $8.32, representing growth of 13% to 16% for the full year. We expect free cash flow to be between $550M-$580M, representing free cash flow margin of 10% to 11% for the full year. "
ITT Reports Q2 Revenue of $1.473B, Beating Consensus
Reports Q2 revenue $1.473B, consensus $1.39B. "ITT delivered another record quarter, reflecting the exceptional execution of our ITTers. Our legacy businesses continue to fire on all cylinders, and in Q2 generated double digit organic orders and double digit revenue growth. Defense programs in CCT are gaining momentum and contributing to significant growth in the quarter and beyond. SPX FLOW delivered a strong first full quarter, with strength in Nutrition and Health and Mixers driving top-line and orders growth resulting in a book-to-bill above 1.1x, whilst the integration continues to progress ahead of plan. Our strategy is working and our ITTers are relentlessly executing it, driving profitable growth and productivity in our legacy businesses and SPX FLOW," said ITT's Chief Executive Officer and President Luca Savi.
ITT Appoints Bertrand Loy and Kevin Wheeler to Board of Directors
ITT (ITT) announced the election of Bertrand Loy and Kevin Wheeler to its board of directors. The appointments are effective as of August 1. The board also appointed Loy to the audit committee and Wheeler to the nominating and governance committee, in each case effective August 1. Loy is executive chairman and former CEO of Entegris (ENTG). Wheeler is executive chairman and former CEO of A. O. Smith (AOS).
ITT Signs Agreement to Acquire Aerospace Contacts for $31M
ITT announced the signing of a definitive agreement to acquire the privately held Aerospace Contacts, a manufacturer of highly engineered contact systems and interconnect components, for a purchase price of $31M. Founded in 1999, Aerospace Contacts employs approximately 140 highly technical professionals from their manufacturing facility in Gilbert, Arizona. The acquisition is expected to close during the third quarter of 2026, subject to the satisfaction of customary closing conditions.
ITT Reports Q1 Revenue of $1.21B, Exceeding Expectations
Reports Q1 revenue $1.21B, consensus $1.11B. "I am incredibly proud of, and humbled by, the performance delivered by our ITTers around the world. It was a strong quarter across the board. As we have said many times, ITT's organic value creation engine is here to stay and in Q1, our legacy businesses proved it once again, with outstanding revenue growth driven by market share gains and continued margin expansion, fueled by our rigor and relentless execution. Each of our businesses delivered profitable growth, supported by a continuous improvement mindset that further strengthens our core operating fundamentals," said CEO Luca Savi. "The SPX FLOW acquisition, ITT's largest to date, is already contributing to our results with above market revenue growth and healthy mid-single digit growth in orders. The team is also progressing nicely in delivering our committed synergies. And to top it all off, ITT's total book-to-bill remains well above one, highlighting the strength of our future growth outlook. We are truly pumped up for what lies ahead."
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