ITT Inc. - ITT STOCK NEWS

On February 22, 2021, ITT announced that its CFO, Emmanuel Caprais, will present at the Gabelli 31st Annual Pump, Valve & Water Systems Symposium on February 25, 2021, from 1:30 p.m. to 2:00 p.m. EST. The presentation will be available via a real-time audio webcast at www.itt.com/investors, with related materials posted before the event. A replay will be accessible for 30 days. ITT is a leading manufacturer of engineered components for various critical markets, operating in over 35 countries.

ITT Inc. reported its Q4 and full-year 2020 financial results, demonstrating resilience amid the pandemic. Q4 sales declined 2% year-over-year, with full-year sales down 13% to $2.478 billion. Despite challenges, the company expanded its Q4 segment operating margin by 200 basis points to 16.9%. A successful pension plan termination resulted in a non-cash charge of $137 million. Adjusted earnings per share increased 2% to $1.01, and free cash flow surged 40% to $372 million. ITT anticipates revenue growth of 5% to 7% in 2021, alongside a 30% dividend increase to $0.22 per share.

ITT Inc. (NYSE: ITT) will announce its fourth quarter and full-year 2020 financial results, along with guidance for 2021, before the NYSE opens on February 19, 2021. A conference call will follow at 9:00 a.m. EST to discuss these results and outlook. Participants can join by calling +1 (706) 643-7542 with ID# 5257154. The call will also be webcast live on ITT's investor page. A replay will be available until March 5, 2021. ITT is a major manufacturer of engineered components for transportation, industrial, and oil and gas sectors, with operations in over 35 countries.

ITT Inc. (NYSE: ITT) has appointed Mark Macaluso as vice president of investor relations, responsible for shaping the company's global investor relations strategy and acting as the primary contact for shareholders.

Macaluso brings over 12 years of experience from Honeywell, where he played key roles in financial leadership and investor relations. He has a strong track record, recognized as a top investor relations officer for three years. Macaluso's prior experience includes roles at PricewaterhouseCoopers and KPMG. ITT is a leading manufacturer in critical components, generating $2.85 billion in revenue in 2019.

Moody’s Investors Service has upgraded ITT's ratings, raising its senior unsecured debt rating to Baa2 from Baa3 and its short-term commercial paper rating to Prime-2 from Prime-3. This upgrade reflects Moody’s expectations of sustained profitability improvements and strong free cash flows while maintaining low debt levels. Additionally, the resilience of ITT's earnings and cash flow during the coronavirus pandemic contributed to this positive assessment. ITT, a manufacturer of critical components and technology solutions for various industries, reported $2.85 billion in revenues for 2019.

ITT Inc. (NYSE: ITT) announces a strategic partnership with aerospace manufacturer Bell Textron Inc. to develop passive vibration control technology for the Bell 360 Invictus. The collaboration aims to produce Liquid Inertia Vibration Eliminator (LIVE™) units, enhancing flight comfort and extending the lifespan of rotorcraft components. This technology builds on Enidine's prior work with Bell, specifically for the Bell 505 and 525 aircraft. The project is part of the Army's Future Attack Reconnaissance Aircraft program, with the first flight targeted for late 2022.

ITT reported its third-quarter 2020 financial results, showcasing resilience amid economic challenges. The company experienced a 17% revenue decline primarily due to COVID-19 impacts, despite a 12% sequential increase in organic revenue. Adjusted EPS rose 44% from the previous quarter to $0.82, while cash from operations totaled $318 million. Significant asbestos liabilities led to a net loss per share of $0.55, with an operating margin of 15.4%. Cost management strategies helped offset some revenue declines, particularly in the Motion Technologies and Industrial Process segments.

ITT Inc. (NYSE: ITT) is set to release its third-quarter 2020 financial results on October 30, 2020, at 6:45 a.m. ET. Following this, an investor briefing call has been rescheduled to 9:30 a.m. ET to accommodate conflicts with other briefings. ITT senior management will discuss the financial and operating results, and answer investor questions. Interested investors can access the briefing by calling +1 (706) 643-7542 or through a live audio webcast available on ITT's investor relations website. A replay will be available for 90 days.

ITT has announced a global distribution agreement with Heilind Electronics and Interstate Connecting Components (ICC), enhancing access to over one million Cannon connector configurations. The agreement covers diverse markets including America, Europe, and Asia Pacific, supporting high-speed applications, critical medical equipment, and defense platforms. Leaders from both companies emphasized the potential for growth and customer satisfaction, showcasing ITT Cannon's commitment to expanding its global reach and customer experience in the interconnect solutions market.