ITT Inc reports results for the quarter ended in March - Earnings Summary

ITT

03/05/2024 17:05

* ITT Inc  ITT.N  reported quarterly adjusted earnings of
$1.42​​
per share for the quarter ended in March, higher than the same
quarter last year, when the company reported EPS of $1.17.  The
mean expectation of twelve analysts for the quarter was
for earnings of $1.36 per share. Wall Street expected results to
range from $1.34  to $1.40 per share.
    * Revenue rose 14.1% to $910.60 million from a year ago;
analysts
expected $883.20 million. 
    * ITT Inc's reported EPS for the quarter was $1.34​.
    * The company reported quarterly net income of $111 million.
    * ITT Inc shares had fallen by 8.5% this quarter and
gained 4.3%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.5%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for ITT Inc is
$148.00 
This summary was machine generated from LSEG data May 3 at 04:05
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.36           1.42           Beat
 Dec. 31 2023      1.34           1.34           Met
 Sep. 30 2023      1.27           1.37           Beat
 Jun. 30 2023      1.18           1.33           Beat