ITT Inc. - ITT STOCK NEWS

ITT Inc. (NYSE: ITT) announced that its Cannon connectors have received U.S. Army qualification for deployment on the Nett Warrior soldier-worn mission command system. The MKJ Warrior Series connectors will provide connectivity for power and data hubs, combat radio systems, wearable batteries, smartphones, and tablets within the Nett Warrior ecosystem.

The Nett Warrior program represents an annual total addressable market of approximately $40 million for ITT. The system is designed to enhance soldier decision-making capabilities through detailed mapping tools and communications functions. The broader market opportunity includes U.S. spending for handheld, manpack and small form fit radios, expected to reach ~$700 million in 2025.

ITT's portfolio includes additional interconnect solutions such as the proprietary Nemesis and HDx connectors, which are used in tactical communications platforms including radios, providing further growth potential.

ITT Inc. (NYSE: ITT) has announced it will release its fourth quarter and full year 2024 financial results, along with its 2025 outlook, before the New York Stock Exchange opens on Thursday, February 6, 2025. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss these results.

Participants can register online to receive dial-in information and a unique PIN, and are advised to join ten minutes before the call starts. A real-time audio webcast will be available on the company's investor relations website, where related materials will be posted before the presentation. A replay will be accessible two hours after the call.

ITT is described as a diversified leading manufacturer of highly engineered critical components and customized technology solutions for transportation, industrial, and energy markets. The company operates globally with employees in over 35 countries and sales in approximately 125 countries.

ITT has received a credit rating upgrade from Moody's, moving to Baa1 from Baa2, while maintaining its Prime-2 short-term commercial paper rating. The upgrade reflects Moody's confidence in ITT's sustained improvements in profitability and cash generation, along with its well-balanced financial policy. Moody's expects ITT's market share gains and strong backlog conversion to support continued operating profit growth. CEO Luca Savi attributes this upgrade to the company's consistent performance, profitable growth, strategic acquisitions, and strong cash generation capabilities.

ITT Inc. (NYSE: ITT) announced its participation in the UBS Global Industrials & Transportation Conference 2024 scheduled for December 4 in Palm Beach, Florida. Chief Financial Officer Emmanuel Caprais will deliver a presentation from 8:50-9:30 a.m. Eastern Time. The presentation will be available via live audio webcast on the company's investor relations website, with replays accessible for 30 days afterward. ITT is a leading manufacturer of engineered components and technology solutions for transportation, industrial, and energy markets, operating in over 35 countries with sales in approximately 125 countries.

ITT has released its 2024 Sustainability Report, highlighting progress toward targets set in November 2022. The company achieved a 5% reduction in Scope 1 and 2 emissions compared to 2021, representing a 20% decrease on a revenue-weighted intensity basis. Revenue from electric and emissions-reducing products increased to 15% of total revenue, up 300 basis points from 2022, including the Svanehøj acquisition.

Key achievements include: 63% of global sites reporting zero safety incidents, a 3% increase in recycled materials compared to 2021, and a 58% increase in philanthropic spending. The company continues to focus on sustainable operations, innovative environmental technologies, and fostering workplace inclusivity while maintaining strong governance practices through Board refreshment.

ITT reported strong Q3 2024 results with revenue increasing 8% (6% organic) to $885.2 million. EPS grew 46% to $1.96, while adjusted EPS rose 7% to $1.46. The company saw 17% orders growth driven by pump projects, rail gains, and connectors demand. Operating margin expanded 610 basis points to 23.5%, including a $48 million gain from the Wolverine divestiture. Notable performance includes revenue growth across all segments, with Industrial Process up 19.3%, Connect & Control Technologies up 12.6%, while Motion Technologies decreased 4.1% due to the Wolverine sale. The company raised its full-year guidance, expecting revenue growth of 10-12% and adjusted EPS of $5.80-$5.86.

ITT Inc. (NYSE: ITT) has announced its participation in the Baird 2024 Global Industrial Conference on November 13 in Chicago. CEO and President Luca Savi and CFO Emmanuel Caprais will deliver a presentation at 1:10 p.m. Central Time. The presentation will be available via live audio webcast on the company's investor relations website, with replays accessible for 30 days. ITT is a leading manufacturer of engineered components and technology solutions for transportation, industrial, and energy markets, operating in over 35 countries with sales in approximately 125 countries.

ITT Inc. (NYSE: ITT) has announced it will release its third quarter 2024 financial results on Tuesday, Oct. 29, before the opening of the New York Stock Exchange. The company will hold a conference call at 8:30 a.m. ET on the same day to discuss its performance.

Participants can register online to join the call and will receive dial-in information and a unique PIN. A real-time audio webcast will be available on the company's investor relations website, where related materials will be posted prior to the presentation. A replay of the webcast will be available two hours after the call.

ITT is a diversified manufacturer of engineered components and technology solutions for the transportation, industrial, and energy markets. The company is headquartered in Stamford, Connecticut, with employees in over 35 countries and sales in approximately 125 countries.

ITT Inc. has announced the election of Maggie Chu to its Board of Directors, effective immediately. Chu currently serves as Chief Human Resources Officer at Littelfuse, Inc., a global manufacturer with a market capitalization of over $6 billion. She leads Littelfuse's HR and corporate communications functions globally.

ITT's Chairman, Timothy H. Powers, highlighted Chu's experience in strategic HR leadership across diverse, global industries similar to ITT's operations. Her expertise in attracting and retaining top global talent for multinational manufacturing companies is expected to strengthen ITT's growth and development of a higher-performing culture.

ITT President and CEO Luca Savi emphasized that Chu's experience at large global industrials will benefit ITT as it continues to grow and reshape its portfolio both organically and through M&A. He noted that Chu's approach aligns well with ITT's culture and that the company's teams will benefit from her diverse experiences and adaptable approach to continuous learning.