ITT down as 2024 profit forecast falls largely below estimates

ITT

08/02/2024 18:21

** Shares of machinery and equipment manufacturer ITT 
 ITT.N  fall about 4.8% to $119.68 - their biggest one-day pct.
loss since Oct.
    ** Co forecasts annual adj. profit between $5.45 and $5.90,
compared with analysts' average estimate of $5.90 - LSEG data
    ** ITT reports Q4 adj. profit of $1.34, in line with
analysts' estimates
    ** Co's quarterly revenue of $829.1 mln beats analysts'
average expectation of $814.4 mln 
    ** Including session's move, stock up 40% in the last 12
months

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))