ITT Inc. - ITT STOCK NEWS

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.

ITT reported a robust 9% revenue growth for Q3 2022, fueled by a 15% organic growth driven by strong demand in pump projects and connectors. Segment operating margin improved to 17.6%, with earnings per share rising 23% to $1.23. The company anticipates reaching the upper end of their revenue guidance at 8% growth, despite foreign currency headwinds. Operating cash flow saw a significant recovery, increasing by $243 million year-over-year. However, ongoing supply chain challenges and the impact of geopolitical tensions are projected to affect future sales.

On November 1, 2022, ITT announced a quarterly dividend of $0.264 per share, payable on December 30, 2022. Shareholders must be on record by December 1, 2022 to receive this payment. As a leader in manufacturing critical components, ITT operates across the transportation, industrial, and energy markets, showcasing its commitment to innovation and customer partnership. The company is headquartered in Stamford, Connecticut, with a global presence in over 35 countries.

ITT Inc. (NYSE: ITT) will announce its third quarter 2022 financial results on November 3, 2022, before the NYSE opens. A conference call is scheduled for 8:30 a.m. ET to discuss the results. Interested participants can join the call by dialing +1 (404) 975-4839 and using Access Code: 622786. A replay will be available until November 17, 2022. ITT specializes in manufacturing critical components and technology solutions for various industries, with operations in over 35 countries.

ITT has acquired Clippard Instrument Laboratories' durable pneumatic cylinder product lines, enhancing its Compact® Automation offerings for high-speed applications in industries like robotics and packaging. This strategic move aims to simplify customer purchasing through complementary distribution channels while strengthening ITT's market presence. The acquisition, finalized in Q2 2022, involves stainless steel, brass, and aluminum cylinder products, and aligns with ITT's expansion into rapidly growing markets.

ITT reported a 6% revenue growth for Q2 2022, driven by a 10% organic increase from strong demand in Connect & Control Technologies and Industrial Process. Orders rose 10% (13% organic), bolstered by pump, connectors, and aerospace components. The company deployed approximately $275 million, including over $60 million for share repurchases, and raised its organic sales guidance. Adjusted EPS improved by 4% year-over-year to $0.98, while operating cash flow for the year-to-date increased by $285.8 million.

ITT Inc. has announced a quarterly dividend payment of $0.264 per share for its common stock, par value $1. The dividend is set to be paid on October 3, 2022, to shareholders on record as of September 2, 2022. This decision reflects ITT's ongoing commitment to returning value to its shareholders, aligning with its strategy of maintaining a sustainable dividend policy. ITT specializes in manufacturing critical components for the transportation, industrial, and energy markets, with a strong presence in over 35 countries.