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ITT Inc. reports developments tied to its diversified manufacturing business in transportation, industrial and energy markets. Company news commonly covers earnings, order trends, outlook updates and segment performance across Connect & Control Technologies, Motion Technologies and Flow Technologies, including aerospace and defense components, connectors, friction products, pumps, valves and aftermarket services.
Coverage also includes portfolio actions and investor communications. The completed acquisition of SPX FLOW added engineered process technologies for mixing, blending, fluid handling, separation and thermal transfer, and the former Industrial Process segment now operates as Flow Technologies.
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.
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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.
ITT Inc. has appointed Bartek Makowiecki as Senior Vice President of Strategy and Business Development, effective immediately. Reporting to CEO Luca Savi, Makowiecki will oversee the company's strategy and M&A activities. He joins from Ingredion, where he led global strategy and M&A efforts. Savi emphasized Makowiecki's experience as pivotal for accelerating ITT's capital deployment and enhancing shareholder value. Makowiecki holds an MBA from the Chinese University of Hong Kong and a degree in international business and finance from Regents University, U.K.
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On August 12, 2021, ITT Inc. announced a quarterly dividend of $0.22 per share on its common stock. This payment is scheduled for October 4, 2021, with shareholders of record by September 13, 2021. ITT operates as a diversified manufacturer in critical components and technology solutions, serving the transportation, industrial, and energy markets globally. The company is headquartered in White Plains, N.Y., and operates in over 35 countries.
ITT Inc. reported a 34% revenue increase for Q2 2021, totaling $691.6 million, driven by strong performance across all segments, particularly in Motion Technologies. The segment operating margin expanded to 16.5%, despite rising raw material costs. However, earnings per share fell by 15% to $0.45, significantly impacted by a $28 million loss from the divestiture of InTelCo Management. Adjusted EPS rose 65% to $0.94. The company anticipates 22-27% growth in adjusted EPS for the year, raising its revenue growth guidance to 11-13%. ITT divested legacy asbestos liabilities with the InTelCo sale.