Welcome to our dedicated page for Itt news (Ticker: ITT), a resource for investors and traders seeking the latest updates and insights on Itt stock.
News and updates on ITT Inc. (NYSE: ITT) focus on its activities as a diversified manufacturer of highly engineered critical components and customized technology solutions for transportation, industrial and energy markets. Company announcements often highlight strategic moves in flow technology, industrial components and global manufacturing, reflecting ITT’s role in supplying equipment and services to key infrastructure-related industries.
Investors following ITT news can expect regular coverage of earnings results, as the company reports quarterly financial performance and outlooks through press releases and conference calls. ITT also issues news on capital markets activity, such as underwritten public offerings of common stock and related financing arrangements, particularly when these support major acquisitions or portfolio changes.
A significant theme in ITT’s recent news has been mergers and acquisitions. The company has announced a definitive agreement to acquire SPX FLOW’s parent company, adding engineered equipment and process technologies for industrial, health and nutrition markets to its Industrial Process segment, subject to regulatory approvals. ITT’s Svanehøj business has also reported acquisitions in cryogenic pumps, pump integration services and compressor technology, expanding its presence in marine and liquefied gas applications.
Operational and geographic developments also appear in ITT’s news flow. Examples include expansion of its Industrial Process manufacturing facility in Saudi Arabia to support Middle East customers and updates on Svanehøj’s global footprint in marine and gas solutions. In addition, ITT announces participation in investor conferences and webcasts, providing insight into management’s views on strategy and market conditions. For readers tracking ITT, this news page offers a centralized view of financial disclosures, strategic transactions and operational milestones.
ITT Inc. (NYSE: ITT) reported strong Q2 2024 results with 9% revenue growth (6% organic) and 11% EPS growth to $1.45. The company announced a strategic portfolio reshaping, including the acquisition of kSARIA for $475 million and the divestiture of Wolverine for $171 million. Key highlights:
- Revenue increased to $905.9 million, driven by growth across all segments
- Operating margin expanded 60 bps to 17.6%; adjusted operating margin up 100 bps to 18.0%
- Free cash flow increased 10% to $134.5 million
- Maintaining full-year guidance despite $0.15 impact from Wolverine divestiture
The kSARIA acquisition strengthens ITT's position in defense and aerospace interconnect solutions, while the Wolverine divestiture reduces automotive exposure.
ITT announced a strategic agreement through its Svanehøj business to supply cryogenic deepwell pumps for the first ammonia-fueled bulk carriers. Acquired by ITT in January 2024, Svanehøj will provide pumps for eight vessels owned by a major maritime group. These pumps are compatible with multiple liquefied gas fuels, including LNG, LPG, methanol, and ammonia, supporting the green energy transition.
The first deliveries will occur in 2024, with the remainder in 2025. This contract is expected to drive long-term growth, supporting ITT's sales in green solutions, currently 16% of annual revenue. Svanehøj's expertise in green applications and a strong order backlog position ITT well for future growth, bolstered by regulatory pressures for emissions reduction in marine vessels.
ITT’s Industrial Process segment, including Svanehøj, generated $1.1 billion in revenue in 2023. The new contract aligns with the International Maritime Organization’s “Net-zero by 2025” strategy.
ITT will announce its second quarter 2024 financial results on August 1, before the NYSE opens. A conference call to discuss the results will be held at 8:30 a.m. ET on the same day, accessible via pre-registration. The event will be webcast live on ITT's investor site, with materials available beforehand and a replay accessible two hours post-call. ITT, based in Stamford, Connecticut, specializes in manufacturing critical components and tech solutions for transportation, industrial, and energy markets, with operations in over 35 countries and sales in about 125 countries.
ITT Inc. (NYSE: ITT) will participate in the 17th Annual Wolfe Research Global Transportation & Industrials Conference on May 22, with CFO Emmanuel Caprais presenting. ITT is known for manufacturing critical components and technology solutions for transportation, industrial, and energy sectors, emphasizing innovation and customer partnerships.
ITT Inc. reported strong Q1 2024 results, including a 14% revenue growth (9% organic), $1.34 EPS, and $1.42 adjusted EPS. The company saw a 13% orders growth and surpassed $900 million in revenue for the quarter. Operating margin expanded to 16.4%, and adjusted operating margin to 17.0%. ITT raised its 2024 full year guidance.
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