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Mar 31, 2020
ITT Q1 2020 Earnings Report
ITT's first-quarter results reflected resilience amidst a challenging global economic environment.
Key Takeaways
ITT Inc. reported a revenue of $663 million, a decrease of 5% compared to the previous year. EPS increased by 19% to $0.95 due to a favorable asbestos settlement, while adjusted EPS decreased by 12% to $0.80. The company is implementing a $50 million restructuring plan and has withdrawn its previously communicated guidance for 2020 due to the uncertainty caused by COVID-19.
Revenue declined 5 percent, impacted by foreign exchange and strategic acquisitions.
EPS increased to $0.95, driven by a favorable asbestos settlement.
Adjusted EPS decreased by 12% to $0.80 due to weaker demand and operational disruptions.
ITT is implementing a $50 million organizational-wide restructuring plan.
Revenue by Segment
Forward Guidance
Due to the uncertainty caused by the COVID-19 pandemic, ITT has withdrawn its previously communicated guidance for 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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