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Jun 30, 2020
ITT Q2 2020 Earnings Report
ITT's second-quarter results reflected diversification, resilience, and proactive actions to mitigate the impacts of the pandemic.
Key Takeaways
ITT Inc. reported a 29 percent decrease in revenue, driven by the negative global impact of COVID-19. EPS from continuing operations decreased to $0.53, and adjusted EPS decreased 39 percent to $0.57. The company increased its cost reduction target to $160 million.
ITT generated tremendous free cash flow and delivered 25 percent adjusted decremental margins.
Leaders acted decisively to increase cost reduction target to $160 million, which will further benefit strong decremental margins.
Industrial Process business continued to expand margins despite top line pressures.
The company is targeting full-year 2020 adjusted decremental margins in the range of 22 to 28 percent.
Revenue by Segment
Forward Guidance
The Company is now targeting full-year 2020 adjusted decremental margins in the range of 22 to 28 percent.
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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