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 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.
ITT Inc. (NYSE: ITT) is set to release its third-quarter 2020 financial results on October 30, 2020, at 6:45 a.m. Eastern Time. A live investor briefing will take place at 9 a.m. Eastern Time, where senior management will discuss the results and answer questions. Investors can join the call at +1 (706) 643-7542 (ID# 9518509) or via a real-time audio webcast available on the company's investor relations website. A replay will be accessible for 90 days post-briefing.
In 2019, ITT generated revenues of $2.85 billion, showcasing its strong positioning in transportation, industrial, and oil and gas markets.
The Board of Directors of ITT has announced a fourth-quarter dividend of 16.9 cents per share on outstanding stock. The dividend is payable on December 30, 2020, for shareholders of record as of December 7, 2020. ITT is a diversified manufacturer providing critical components and technology solutions across various sectors, including transportation and oil and gas, generating $2.85 billion in revenue for 2019.