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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.
ITT Aerospace Controls, a subsidiary of ITT (NYSE: ITT), has launched an expanded aircraft component line featuring five new valves and actuators. These products enhance fluid handling systems in aerospace and defense markets, offering improved reliability and efficiency. Innovations include patented designs and advanced technologies that reduce maintenance costs and enhance operational control. The components can be utilized independently or together as a complete system, marking a significant advancement in aerospace technology.
ITT Inc. (NYSE: ITT) announced that CEO Luca Savi and CFO Emmanuel Caprais will present at the Citi 2022 Global Industrial Tech and Mobility Conference on February 24, 2022, from 8:00 a.m. to 8:40 a.m. ET. A live audio webcast of the presentation will be available on the ITT investors' website, where additional materials will be posted beforehand. A replay will be accessible for 30 days following the event. ITT specializes in engineered components and technology solutions for the transportation, industrial, and energy sectors, serving customers in over 125 countries.
ITT Inc. reported Q4 2021 results with a 3% revenue decline year-over-year, attributed to supply chain issues and a tough comparison with the prior year. Despite this, segment operating margin improved to 17.9%, up 100 bps. The company announced a 20% increase in its quarterly dividend to $0.264 per share and provided 2022 EPS guidance of $4.22 to $4.66, representing a growth of 16% to 28%. For the full year, revenue rose 12%, showcasing strength in Motion Technologies and Connect & Control. However, operating cash flows faced a significant decline.
ITT Inc. (NYSE: ITT) is set to release its fourth quarter and full year 2021 financial results on February 9, 2022, after the close of the New York Stock Exchange. A conference call will be held on February 10 at 8:30 a.m. Eastern Time to discuss the results and provide the 2022 outlook. Interested participants can join the call by dialing +1 (646) 904-5544 and using Access Code: 467739. A replay will be available until February 24, 2022. ITT is a leading manufacturer providing critical components for various markets, headquartered in White Plains, N.Y.
ITT Inc. (NYSE: ITT) has launched the Veam MOVE-MOD™ circular connector series, designed for harsh environments and offering modular flexibility. This new product enables power, signal, and data transmission using snap-in modules tailored to specific system needs. Key features include a reduced footprint compared to rectangular connectors, toolless assembly, and enhanced locking mechanisms. The connectors boast a 500-hour salt spray resistance and are RoHS and REACH compliant, with a wide operating temperature range of -55°C to -115°C.
ITT Inc. reported a 17% increase in revenue for Q3 2021, with organic growth at 16%, driven by strong demand across all segments. The segment operating margin rose to 16.1%, an increase of 190 basis points. Earnings Per Share (EPS) surged to $1.00, up 282% from a loss in the prior year. The company raised its 2021 EPS guidance to reflect robust performance, anticipating EPS of $4.01 to $4.06, a 25-27% increase year-over-year. However, operating cash flow declined to $(127.9) million due to working capital investments and supply chain challenges.
ITT Inc. (NYSE: ITT) has announced that CEO Luca Savi and CFO Emmanuel Caprais will present at the Baird Global Industrial Virtual Conference on November 9, 2021, from 11:25 a.m. to 11:55 a.m. ET. A real-time audio webcast of the presentation can be accessed at www.itt.com/investors, along with related materials. A replay will be available for 30 days. ITT, headquartered in White Plains, N.Y., manufactures critical components and technology solutions for various industries.
ITT Inc. (NYSE: ITT) will release its third quarter financial results after market close on November 3, 2021. A conference call is scheduled for November 4 at 8:30 a.m. ET to discuss the results. Participants can join the call by dialing +1 (203) 518-9713 and using ID#: ITTQ321. A replay will be available from the end of the call until November 11, 2021. ITT is a key manufacturer of critical components for transportation, industrial, and energy markets, headquartered in White Plains, N.Y., with operations in over 35 countries.
ITT Inc. (NYSE: ITT) has declared a quarterly dividend payment of $0.22 per share on its common stock, payable on December 30, 2021. Shareholders of record as of December 13, 2021 will receive this payment. ITT is a leading manufacturer providing critical components primarily for the transportation, industrial, and energy sectors, and has a global presence with operations in over 35 countries.
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