Welcome to our dedicated page for ITT news (Ticker: ITT), a resource for investors and traders seeking the latest updates and insights on ITT stock.
ITT Inc. (NYSE: ITT) is a globally recognized manufacturer of highly engineered critical components and customized technology solutions primarily serving the transportation, industrial, and energy markets. Founded in 1920 and headquartered in White Plains, NY, ITT operates with a workforce spread across more than 35 countries, catering to customers in approximately 125 countries worldwide.
The company organizes its diverse range of offerings into three major business segments:
- Motion Technologies (MT): This segment is the largest revenue generator for ITT, focusing on the manufacturing of brake pads, shims, shock absorbers, energy absorption components, and sealing technologies for the global transportation market.
- Industrial Process (IP): Specializes in engineered fluid process equipment, serving sectors such as oil and gas, mining, power generation, and chemicals. The segment is also an aftermarket service provider, ensuring long-term support for its customers.
- Connect & Control Technologies (CCT): Produces a wide variety of connector products and customized interconnect solutions for critical applications in the oil and gas sector, aerospace, defense, and industrial markets.
ITT's extensive product portfolio includes brake pads, shock absorbers, pumps, valves, connectors, and switches, among others. The company has built a strong reputation for offering specialized engineered solutions tailored to meet the unique needs of its customers.
Financially, ITT demonstrated robust performance in 2012, generating revenues of $2.5 billion. The company's strategic initiatives and innovative solutions have positioned it as a significant player in its respective markets.
In recent developments, ITT continues to expand its capabilities and market reach through strategic partnerships and investments in technology advancement. The company's commitment to excellence and innovation ensures its products and services meet the highest standards of reliability and efficiency.
On July 1, 2021, ITT announced the divestment of InTelCo Management LLC to Delticus HoldCo, L.P. This strategic move is part of ITT's plan to mitigate legacy asbestos liabilities, alongside a previous U.S. pension plan termination. ITT contributed approximately $398 million in cash to InTelCo, resulting in a one-time after-tax loss of about $27 million. The transaction simplifies ITT's balance sheet, enhancing its focus on core operations and growth initiatives.
MSA Safety, the global leader in safety products, has appointed Luca Savi, CEO of ITT, to its Board of Directors. This decision was announced on June 29, 2021, by MSA’s President, Nish Vartanian. Savi brings extensive international experience and leadership from his roles in Europe, China, and the U.S., which MSA believes will bolster its strategic growth efforts, especially in international markets. Savi’s background includes key positions at ITT and Comau, as well as industry experience with Shell and Honeywell. MSA reported 2020 revenues of $1.35 billion.
June 4, 2021 -- ITT Inc. (NYSE: ITT) has announced a quarterly dividend of $0.22 per share, payable on July 6, 2021, to shareholders on record as of June 21, 2021. ITT is a leading manufacturer providing critical components and customized technology solutions for various markets including transportation and oil and gas. With a strong global presence, ITT aims to deliver enduring solutions to vital industries.
On June 2, 2021, ITT announced that CEO Luca Savi will present at the UBS Global Industrials and Transportation Virtual Conference on June 8, 2021, from 1:00 p.m. to 1:45 p.m. ET. The presentation will be accessible via a real-time audio webcast on ITT's investor relations page, where related materials will be posted ahead of the event. A replay of the presentation will be available for 30 days post-event. ITT is a leading manufacturer providing critical components and technology solutions for key industries, headquartered in White Plains, N.Y.
ITT Inc. (NYSE: ITT) has announced that CFO Emmanuel Caprais will present at the KeyBanc Capital Markets Industrial & Basic Materials Virtual Conference on June 1, 2021, from 11:20 a.m. to 11:50 a.m. ET. Interested parties can access a real-time audio webcast of the presentation at itt.com/investors, where additional materials will be available beforehand. A replay will be accessible for 30 days post-event. ITT specializes in highly engineered components and technology solutions for various industries, serving over 125 countries.
On May 13, 2021, ITT announced that CEO Luca Savi and CFO Emmanuel Caprais will present at the Bank of America Securities 2021 Virtual Transportation, Airlines, and Industrials Conference. The presentation is scheduled for May 20, 2021, from 7:20 a.m. to 7:50 a.m. ET. A real-time audio webcast will be available at www.itt.com/investors, where related materials will be posted prior to the event. A replay will be accessible for 30 days.
ITT is a leading manufacturer of engineered components and solutions in transportation, industrial, and oil and gas markets.
On May 7, 2021, ITT reported a 5% year-over-year sales increase for Q1 2021, with organic growth at 2%. Key drivers included strong performance in Friction and Connectors businesses, with a segment operating margin improvement of 530 basis points to 17.0%. Operating cash flow grew by 32% to $71 million and free cash flow surged 71% to $54 million. ITT also raised its 2021 earnings per share guidance to $3.80 to $4.00, anticipating a 19% to 25% increase over the prior year.
On May 4, 2021, ITT announced that CEO Luca Savi and CFO Emmanuel Caprais will present at the Goldman Sachs Industrial & Materials Conference on May 11, 2021, from 8:00 a.m. to 8:35 a.m. ET. The presentation will be available via a real-time audio webcast at www.itt.com/investors. A replay will be accessible for 30 days post-event. ITT is a leading manufacturer of critical components and technology solutions for various industries, headquartered in White Plains, N.Y.
ITT Inc. (NYSE: ITT) is set to report its first-quarter financial results on May 7, 2021, before the NYSE opens. The company will also hold a conference call at 9:00 a.m. ET to discuss these results. Interested parties can join the call by dialing +1 (706) 643-7542 and entering ID#: 3580229. A real-time audio webcast will be available at www.itt.com/investors. Additionally, a replay of the call will be accessible until May 21, 2021, by calling +1 (800) 585-8367 with the same ID number. ITT is a diversified manufacturer serving critical industries worldwide.
On February 22, 2021, ITT announced that its CFO, Emmanuel Caprais, will present at the Gabelli 31st Annual Pump, Valve & Water Systems Symposium on February 25, 2021, from 1:30 p.m. to 2:00 p.m. EST. The presentation will be available via a real-time audio webcast at www.itt.com/investors, with related materials posted before the event. A replay will be accessible for 30 days. ITT is a leading manufacturer of engineered components for various critical markets, operating in over 35 countries.
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