ITT Inc (ITT) Tops Q3 EPS by 11c, Revenues Beat

October 30, 2020 6:46 AM

ITT Inc (NYSE: ITT) reported Q3 EPS of $0.82, $0.11 better than the analyst estimate of $0.71. Revenue for the quarter came in at $591.2 million versus the consensus estimate of $579.27 million.

“I want to thank all the ITTers for their continued hard work and execution this quarter. Our never-ending dedication created value for our customers every single day. Our resilience and execution produced strong financial results for the third quarter despite the challenging market conditions. We achieved a 44 percent increase in our adjusted EPS over the second quarter, and an overall adjusted operating income margin of 15.4 percent, an all-time record for ITT,” said Luca Savi, Chief Executive Officer and President of ITT Inc. “I am particularly proud of how our ITTers and our businesses have responded. The fact that we delivered an operating margin record while facing the current macro environment is “simply” outstanding and is the result of our execution and our commitment to ITT’s strategic priorities of customer centricity, operational excellence and effective capital deployment. The unprecedented granularity of our focus will continue to strengthen ITT and drive us forward into the future.”

For earnings history and earnings-related data on ITT Inc (ITT) click here.

Categories

Corporate News Earnings Management Comments

Next Articles