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Jul 02, 2022
ITT Q2 2022 Earnings Report
ITT reported Q2 2022 earnings with EPS of $0.91 and adjusted EPS of $0.98.
Key Takeaways
ITT Inc. reported a revenue increase of 6% year-over-year, with a 10% increase on an organic basis. The growth was primarily driven by Connect & Control Technologies (CCT) and Industrial Process (IP), and pricing actions across all businesses. The company also deployed approximately $275 million in the quarter, including share repurchases and M&A investments.
ITT delivered solid results in the second quarter, with 10% organic revenue growth.
Strong demand and share gains in Industrial Process and in CCT drove organic orders growth.
Adjusted earnings per share grew sequentially and year over year.
ITT deployed nearly $275 million in the quarter, investing in growth and innovation.
Revenue by Segment
Forward Guidance
ITT reaffirmed its full-year 2022 guidance.
Positive Outlook
- Expects revenue growth of 7% to 9%.
- Expects organic revenue growth of 10% to 12%.
- Segment operating margin of 17.5% to 18.4%.
- Adjusted segment operating margin of 17.6% to 18.5%.
- Free cash flow of $250 million to $300 million.
Challenges Ahead
- Continued disruptions in the global supply chain stemming from labor shortages.
- Supplier delays.
- High raw material prices.
- Significant reduction in sales in Russia stemming from the war in Ukraine.
- Expects EPS of $4.12 to $4.45, and adjusted EPS of $4.35 to $4.65.
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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