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Oct 02, 2021
ITT Q3 2021 Earnings Report
ITT reported strong results and raised 2021 outlook.
Key Takeaways
ITT Inc. reported a 17% year-over-year revenue increase, driven by growth in Motion Technologies’ Friction aftermarket business, the connector business in Connect & Control Technologies, and short cycle demand in Industrial Process. EPS was $1.00, up 282%, and adjusted EPS was $0.99, up 21%. The company raised its full-year adjusted earnings per share outlook to a new range of $4.01 to $4.06.
Revenue up 17%, organic revenue up 16% driven by demand across all segments
Segment operating margin of 16.1%, up 190 bps
Adjusted segment operating margin of 16.8%, up 60 bps
Earnings Per Share (EPS) of $1.00, up 282%; adjusted EPS of $0.99 up 21%; exceeding 2019
Revenue by Segment
Forward Guidance
ITT raised its full-year 2021 guidance to reflect the strong third quarter results despite higher than anticipated headwinds from raw material costs, particularly in the Motion Technologies segment. We now expect earnings per share of $3.47 to $3.54, up 345% to 354%, and adjusted earnings per share of $4.01 to $4.06 per share, up 25% to 27%.
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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