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 April 25, 2023, ITT Inc. (NYSE: ITT) announced its participation in two key investor conferences. CEO Luca Savi and CFO Emmanuel Caprais are set to present virtually at Oppenheimer's 18th Annual Industrial Growth Conference on May 8 at 2:15 p.m. ET, followed by the Goldman Sachs Industrials and Materials Conference on May 9 at 9:20 a.m. ET in New York. Both presentations will be available via live webcast at investors.itt.com, with replays accessible for 30 days. Founded in Stamford, Connecticut, ITT is a leading manufacturer specializing in engineered components and technology solutions across industries including transportation and energy.
ITT Inc. (NYSE: ITT) will announce its first quarter 2023 financial results on May 4, 2023, before the NYSE opens. A conference call is scheduled for 8:30 a.m. Eastern Time on the same day to discuss the results. Participants can join the call by dialing +1 (929) 526-1599 and using the Access Code: 519839. The call will also be available via a live audio webcast at https://investors.itt.com. A replay of the call will be accessible until May 18, 2023, by calling +1 (866) 813-9403 with Access Code: 568794. ITT is a diversified manufacturer providing critical components and technology solutions for various markets, headquartered in Stamford, Connecticut, and operating globally.
ITT Inc. has signed a 10-year agreement with Continental AG for the supply of aftermarket brake pads, anticipated to generate over $1 billion in revenue through 2033. ITT Friction Technologies will supply exclusive copper-free and ceramic brake pads to Continental, enhancing their ATE premium line. This contract builds on a partnership lasting over 45 years and is crucial as sales to Continental constituted approximately 8% of total ITT revenue in 2022. The agreement commences on January 1, 2024, ensuring continued collaboration in the automotive aftermarket.
ITT Inc. (NYSE: ITT) announced its participation in the Bank of America Global Industrials Conference on March 21, 2023, in London. CEO Luca Savi and CFO Emmanuel Caprais will present from 9:05-9:45 a.m. ET. Investors can access a real-time audio webcast of the presentation starting two weeks prior to the event at investors.itt.com, with a replay available for 30 days. ITT is a leading manufacturer of engineered components and technology solutions across several markets, headquartered in Stamford, Connecticut, employing staff across 35 countries.
ITT Inc. reported a 13% revenue growth in Q4 2022, with 17% organic growth, driven by pricing recovery and increased volume, particularly in connectors and aerospace. The company's EPS increased 16% to $1.39, with adjusted EPS up 22% to $1.29. A 10% rise in quarterly dividend to $0.29 per share was also announced. Full-year revenue for 2022 reached $2.99 billion, up 8.1%, with significant operating cash flow improvements. The company initiated 2023 guidance forecasting revenue growth of 7% to 9% and EPS between $4.38 and $4.78, reflecting confidence in future performance and operational efficiency.
ITT Inc. (NYSE: ITT) announced its participation in two investor conferences on February 23, 2023. CEO Luca Savi and CFO Emmanuel Caprais will present at Citibank's Global Industrial Tech and Mobility Conference in Miami from 8:50-9:30 a.m. ET and virtually at the 33rd Annual Gabelli Pump, Valve & Water Systems Symposium in New York from 12:30-1 p.m. ET. A live audio webcast of both presentations will be available on ITT's investor relations website, with replays accessible for 30 days. ITT, headquartered in Stamford, Connecticut, is a diversified manufacturer delivering critical components and technology solutions across transportation, industrial, and energy markets.
ITT Inc. announced it will release its fourth quarter and full year 2022 financial results on February 9, 2023, before the New York Stock Exchange opens. A conference call will take place at 8:30 a.m. ET to discuss these results and the 2023 outlook.
Participants can join the call by dialing +1 (929) 526-1599 and providing Access Code: 690547. An audio webcast will be available at investors.itt.com.
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