{"id":831984,"date":"2022-11-03T18:08:11","date_gmt":"2022-11-03T17:08:11","guid":{"rendered":"https:\/\/bebeez.it\/non-categorizzato\/itt-reports-2022-third-quarter-earnings-per-share-eps-of-1-23-adjusted-eps-of-1-20\/"},"modified":"2022-11-03T18:08:11","modified_gmt":"2022-11-03T17:08:11","slug":"itt-reports-2022-third-quarter-earnings-per-share-eps-of-1-23-adjusted-eps-of-1-20","status":"publish","type":"post","link":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/itt-reports-2022-third-quarter-earnings-per-share-eps-of-1-23-adjusted-eps-of-1-20\/","title":{"rendered":"ITT Reports 2022 Third Quarter Earnings Per Share (EPS) of $1.23, Adjusted EPS Of $1.20"},"content":{"rendered":"

9% revenue growth (15% organic) driven by volume and pricing recovery across all businesses; expect to be at upper end of revenue guidance<\/p>\n

7% orders growth (13% organic) driven by strong pump projects, connectors and aerospace and defense components demand<\/p>\n

17.6% segment operating margin (18.2% adjusted) and 23% EPS growth (21% adjusted); strong improvement on a year-over-year basis and sequentially<\/p>\n

STAMFORD, Conn.–(BUSINESS WIRE)–November 3, 2022– ITT Inc. (NYSE: ITT) today reported financial results for the third quarter ended October 1, 2022. The company reported a year-over-year revenue increase of 9%, up 15% on an organic basis, primarily driven by short-cycle and pump project growth in Industrial Process (IP), demand in connectors and components in Connect & Control Technologies (CCT), Friction OE growth in Motion Technologies (MT) and pricing recovery across all segments. The acquisition of Habonim also contributed 2% to revenue growth. This was partially offset by an 8% unfavorable impact from U.S. dollar appreciation against foreign currencies.\n<\/p>\n

<\/a><\/p>\n

\nSegment operating income of $132 million increased 19% (18% adjusted) compared to prior year. Segment operating margin of 17.6% for the third quarter increased 150 basis points versus prior year. Pricing recovery, higher sales volumes and productivity more than offset higher raw material and overhead inflation costs.\n<\/p>\n

\nEarnings per share for the third quarter of $1.23 increased 23% versus prior year primarily due to higher segment operating income despite foreign currency translation headwinds, partially offset by higher strategic investments and interest expense. Excluding the impact of restructuring and other items, adjusted earnings per share of $1.20 for the third quarter of 2022 increased 21% compared to prior year driven primarily by higher segment operating income and benefits from share repurchases.\n<\/p>\n

\nOperating cash flow for the year-to-date period increased $243 million versus prior year to $115 million, compared to an outflow in the prior year of $128 million which included a $398 million payment to fund the asbestos divestiture in Q2 2021. Excluding the impact of the asbestos-related payment, operating cash flow declined $155 million driven by an increase in working capital to support sales growth and to mitigate continued supply chain disruptions.\n<\/p>\n

\n<\/div>\n

\nTable 1. Third Quarter Performance\n<\/p>\n

\n\u00a0\n<\/p>\n

\nQ3 2022<\/span>\n<\/p>\n

\n\u00a0\n<\/p>\n

\nQ3 2021<\/span>\n<\/p>\n

\n\u00a0\n<\/p>\n

\nChange<\/span>\n<\/p>\n

\nRevenue\n<\/p>\n

\n$\n<\/p>\n

\n753.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n689.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9.3\n<\/p>\n

\n%\n<\/p>\n

\nOrganic growth\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n14.9\n<\/p>\n

\n%\n<\/p>\n

\nSegment Operating Income\n<\/p>\n

\n$\n<\/p>\n

\n132.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n111.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n19.1\n<\/p>\n

\n%\n<\/p>\n

\nSegment Operating Margin\n<\/p>\n

\n\u00a0\n<\/p>\n

\n17.6\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n16.1\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n150\n<\/p>\n

\nbps\n<\/p>\n

\nAdjusted Segment Operating Income\n<\/p>\n

\n$\n<\/p>\n

\n136.8\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n115.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n18.2\n<\/p>\n

\n%\n<\/p>\n

\nAdjusted Segment Operating Margin\n<\/p>\n

\n\u00a0\n<\/p>\n

\n18.2\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n16.8\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n140\n<\/p>\n

\nbps\n<\/p>\n

\nEarnings Per Share\n<\/p>\n

\n$\n<\/p>\n

\n1.23\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n1.00\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n23.0\n<\/p>\n

\n%\n<\/p>\n

\nAdjusted Earnings Per Share\n<\/p>\n

\n$\n<\/p>\n

\n1.20\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n0.99\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n21.2\n<\/p>\n

\n%\n<\/p>\n

\nOperating Cash Flow (YTD)\n<\/p>\n

\n$\n<\/p>\n

\n115.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(127.9\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n190.1\n<\/p>\n

\n%\n<\/p>\n

\nFree Cash Flow (YTD)\n<\/p>\n

\n$\n<\/p>\n

\n41.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n(180.5\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n123.0\n<\/p>\n

\n%\n<\/p>\n

\nNote: all results unaudited\n<\/p>\n

\nManagement Commentary\n<\/p>\n

\n\u201cITT\u2019s third quarter results demonstrate the unique resilience of our business even as we manage continued macro headwinds. We generated double-digit organic orders growth, evidence of our continued market share gains that contributed to a quarter-ending backlog of over $1 billion. We saw strong sequential improvement in adjusted segment operating margin and adjusted EPS despite continued supply chain challenges, persistent inflation and foreign currency headwinds. We are progressing in our pricing recovery while remaining vigilant on productivity. Finally, we deployed over $50 million during the third quarter to capex and dividends, bringing our total capital deployed in 2022 to over $560 million. I am sincerely grateful for the performance of our ITTers worldwide who worked hard day and night to deliver these outstanding results and who continue to tirelessly manage our businesses through a challenging environment,\u201d said Luca Savi, Chief Executive Officer and President of ITT.\n<\/p>\n

\nTable 2. Third Quarter Segment Results\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nRevenue\n<\/p>\n

\n\u00a0\n<\/p>\n

\nOperating Income\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nQ3 2022\n<\/p>\n

\nReported
\n
Increase\/
\n
(Decrease)\n<\/p>\n

\nOrganic
\n
Growth\n<\/p>\n

\n\u00a0\n<\/p>\n

\nQ3 2022\n<\/p>\n

\nReported
\n
Increase\/
\n
(Decrease)\n<\/p>\n

\nAdjusted
\n
Increase
\n
(Decrease)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nMotion Technologies\n<\/p>\n

\n$\n<\/p>\n

\n342.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n3.0 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n14.9 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n$\n<\/p>\n

\n54.0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n0.7 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(6.2) %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nIndustrial Process\n<\/p>\n

\n\u00a0\n<\/p>\n

\n248.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n17.9 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n14.6 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n48.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n48.5 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n59.3 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nConnect & Control Technologies\n<\/p>\n

\n\u00a0\n<\/p>\n

\n163.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n10.9 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n15.4 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n30.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n20.2 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n20.7 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nTotal segment results\n<\/p>\n

\n\u00a0\n<\/p>\n

\n753.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9.3 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n14.9 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n132.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n19.1 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n18.2 %\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\nNote: all results unaudited; excludes intercompany eliminations of $0.3; comparisons to Q3 2021\n<\/p>\n

\n<\/div>\n

\nMotion Technologies revenue increased primarily driven by strong growth in Friction OE from pricing recovery and higher volumes, partially offset by significant unfavorable foreign currency translation of $40 million and lower rail volumes stemming from the war in Ukraine. Operating income increased to $54 million primarily due to favorable pricing, productivity actions and higher sales volume, partially offset by higher raw material and overhead costs and unfavorable foreign currency impacts.\n<\/p>\n

\nIndustrial Process revenue increased primarily driven by growth across the short-cycle business and pump projects, principally within the energy market, and from the addition of Habonim, acquired in April 2022. This was partially offset by unfavorable foreign currency translation of $8 million. Operating income increased to $48 million driven by favorable pricing, productivity actions and higher volume, including from Habonim, partially offset by higher raw material and overhead costs.\n<\/p>\n

\nConnect & Control Technologies revenue increased driven by growth in both components and connectors, with particular strength in the aerospace and defense markets. This was partially offset by unfavorable foreign currency translation of $7 million. Operating income increased to $30 million driven by productivity actions, favorable pricing and higher volume, partially offset by higher raw material costs and unfavorable foreign currency impacts.\n<\/p>\n

\n2022 Guidance\n<\/p>\n

\nWe now expect revenue growth of 8%, and 12% on an organic basis driven by the strong year-to-date performance. The revenue guidance assumes a continued reduction in sales in Russia stemming from the war in Ukraine, which we estimate will impact revenue by approximately $85 million for the full year. Our revised guidance for segment operating margin, EPS and free cash flow reflects the impact of continued disruptions in the global supply chain and continued cost inflation which we anticipate will persist throughout 2022. As a result, we now expect segment operating margin of approximately 17.0%, and adjusted segment operating margin of approximately 17.6%, up 40 bps for the full year; free cash flow of $135 million to $165 million, representing free cash flow margin of 5% to 6% for the full year; EPS of $4.20 to $4.30, and adjusted EPS of $4.35 to $4.45, up 7% to 10% for the full year.\n<\/p>\n

\nInvestor Conference Call Details\n<\/p>\n

\nITT\u2019s management will host a conference call for investors on Thursday, November 3 at 8:30 a.m., Eastern Time. The briefing can be accessed live via webcast which is available on the company\u2019s website: https:\/\/investors.itt.com<\/a>. A replay of the webcast will be available for 90 days following the presentation. A replay will also be available telephonically from two hours after the webcast until Thursday, November 17, 2022, at midnight, Eastern Time. Reconciliations of non-GAAP financial performance metrics to their most comparable U.S. GAAP financial performance metrics are defined and presented below and should not be considered a substitute for, nor superior to, the financial data prepared in accordance with U.S. GAAP.\n<\/p>\n

\n<\/div>\n

\nSafe Harbor Statement\n<\/p>\n

\nThis release contains \u201cforward-looking statements\u201d intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In addition, the conference call (including the financial results presentation material) may include, and officers and representatives of ITT may from time to time make and discuss, projections, goals, assumptions, and statements that may constitute \u201cforward-looking statements\u201d. These forward-looking statements are not historical facts, but rather represent only a belief regarding future events based on current expectations, estimates, assumptions and projections about our business, future financial results and the industry in which we operate, and other legal, regulatory, and economic developments. These forward-looking statements include, but are not limited to, future strategic plans and other statements that describe the company\u2019s business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future events and future operating or financial performance.\n<\/p>\n

\nWe use words such as \u201canticipate,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cproject,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201ctarget,\u201d \u201cfuture,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cguidance\u201d and other similar expressions to identify such forward-looking statements. Forward-looking statements are uncertain and, by their nature, many are inherently unpredictable and outside of ITT\u2019s control, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such forward-looking statements.\n<\/p>\n

\nWhere in any forward-looking statement we express an expectation or belief as to future results or events, such expectation or belief is based on current plans and expectations of our management, expressed in good faith and believed to have a reasonable basis. However, we cannot provide any assurance that the expectation or belief will occur or that anticipated results will be achieved or accomplished.\n<\/p>\n

\nAmong the factors that could cause our results to differ materially from those indicated by forward-looking statements are risks and uncertainties inherent in our business including, without limitation:\n<\/p>\n

impacts on our business stemming from the COVID-19 pandemic, including from government-mandated site closures, employee illness and absenteeism, and continued supply chain disruptions and raw material shortages, which has resulted in increased costs and reduced availability of key commodities and other necessary services;<\/p>\n

uncertain global economic and capital markets conditions, which have been influenced by the COVID-19 pandemic, the Russia-Ukraine war, rising inflation, changes in monetary policies, the threat of a possible global economic recession, trade disputes between the U.S. and its trading partners, political and social unrest, and the availability and fluctuations in prices of energy and commodities, including steel, oil, copper, and tin;<\/p>\n

volatility in raw material prices and our suppliers\u2019 ability to meet quality and delivery requirements;<\/p>\n

failure to manage the distribution of products and services effectively;<\/p>\n

fluctuations in foreign currency exchange rates and the impact of such fluctuations on customer demand for our products and on our hedging arrangements;<\/p>\n

fluctuations in interest rates and the impact of such fluctuations on consumer behavior and on our cost of debt;<\/p>\n

failure to compete successfully and innovate in our markets;<\/p>\n

failure to protect our intellectual property rights or violations of the intellectual property rights of others;<\/p>\n

the extent to which there are quality problems with respect to manufacturing processes or finished goods;<\/p>\n

the risk of cybersecurity breaches;<\/p>\n

loss of or decrease in sales from our most significant customers;<\/p>\n

risks due to our operations and sales outside the U.S. and in emerging markets;<\/p>\n

the impacts on our business from Russia\u2019s war with Ukraine, and the global response to it;<\/p>\n

fluctuations in demand or customers\u2019 levels of capital investment and maintenance expenditures, especially in the energy, chemical, and mining markets, or changes in our customers\u2019 anticipated production schedules, especially in the commercial aerospace market;<\/p>\n

the risk of material business interruptions, particularly at our manufacturing facilities;<\/p>\n

risk of liabilities from past divestitures and spin-offs;<\/p>\n

failure of portfolio management strategies, including cost-saving initiatives, to meet expectations;<\/p>\n

risks related to government contracting, including changes in levels of government spending and regulatory and contractual requirements applicable to sales to the U.S. government;<\/p>\n

fluctuations in our effective tax rate, including as a result of the passage of the Inflation Reduction Act of 2022 and other possible tax reform legislation in the U.S. and other jurisdictions;<\/p>\n

changes in environmental laws or regulations, discovery of previously unknown or more extensive contamination, or the failure of a potentially responsible party to perform;<\/p>\n

failure to comply with the U.S. Foreign Corrupt Practices Act (or other applicable anti-corruption legislation), export controls and trade sanctions, including tariffs;<\/p>\n

risk of product liability claims and litigation; and<\/p>\n

changes in laws relating to the use and transfer of personal and other information.<\/p>\n

\nThe forward-looking statements included in this release speak only as of the date hereof. We undertake no obligation (and expressly disclaim any obligation) to update any forward-looking statements, whether written or oral or as a result of new information, future events or otherwise.\n<\/p>\n

\n<\/div>\n

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
\n(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)<\/p>\n

\u00a0<\/p>\n

\nThree Months Ended\n<\/p>\n

\nNine Months Ended\n<\/p>\n

\nOctober 1,
\n
2022\n<\/p>\n

\nOctober 2,
\n
2021\n<\/p>\n

\nOctober 1,
\n
2022\n<\/p>\n

\nOctober 2,
\n
2021\n<\/p>\n

Revenue
\n$<\/p>\n

\n753.6\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n689.6\n<\/p>\n

$<\/p>\n

\n2,213.1\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n2,079.6\n<\/p>\n

\n\u00a0\n<\/p>\n

Cost of revenue<\/p>\n

\n520.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n467.6\n<\/p>\n

\n1,539.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,404.0\n<\/p>\n

\n\u00a0\n<\/p>\n

Gross profit<\/p>\n

\n233.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n222.0\n<\/p>\n

\n674.0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n675.6\n<\/p>\n

\n\u00a0\n<\/p>\n

General and administrative expenses<\/p>\n

\n47.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n60.4\n<\/p>\n

\n164.9\n<\/p>\n

\n\u00a0\n<\/p>\n

\n176.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Sales and marketing expenses<\/p>\n

\n39.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n37.4\n<\/p>\n

\n118.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n112.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Research and development expenses<\/p>\n

\n24.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n22.5\n<\/p>\n

\n73.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\n70.0\n<\/p>\n

\n\u00a0\n<\/p>\n

Asbestos-related benefit, net<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n–\n<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(74.4\n<\/p>\n

\n)\n<\/p>\n

Operating income<\/p>\n

\n122.0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n101.7\n<\/p>\n

\n317.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n391.2\n<\/p>\n

\n\u00a0\n<\/p>\n

Interest and non-operating expense (income), net<\/p>\n

\n2.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n0.5\n<\/p>\n

\n2.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(4.3\n<\/p>\n

\n)\n<\/p>\n

Income from continuing operations before income tax expense<\/p>\n

\n119.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\n101.2\n<\/p>\n

\n314.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n395.5\n<\/p>\n

\n\u00a0\n<\/p>\n

Income tax expense<\/p>\n

\n16.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n14.1\n<\/p>\n

\n59.9\n<\/p>\n

\n\u00a0\n<\/p>\n

\n182.7\n<\/p>\n

\n\u00a0\n<\/p>\n

Income from continuing operations<\/p>\n

\n103.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n87.1\n<\/p>\n

\n254.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n212.8\n<\/p>\n

\n\u00a0\n<\/p>\n

(Loss) income from discontinued operations, net of tax (expense) benefit of $(0.1), $0.5, $0.3 and $0.5, respectively<\/p>\n

\n(0.1\n<\/p>\n

\n)\n<\/p>\n

\n0.9\n<\/p>\n

\n(1.3\n<\/p>\n

\n)\n<\/p>\n

\n0.9\n<\/p>\n

\n\u00a0\n<\/p>\n

Net income<\/p>\n

\n103.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n88.0\n<\/p>\n

\n253.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n213.7\n<\/p>\n

\n\u00a0\n<\/p>\n

Less: Income attributable to noncontrolling interests<\/p>\n

\n0.8\n<\/p>\n

\n\u00a0\n<\/p>\n

\n0.5\n<\/p>\n

\n1.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1.0\n<\/p>\n

\n\u00a0\n<\/p>\n

Net income attributable to ITT Inc.
\n$<\/p>\n

\n102.4\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n87.5\n<\/p>\n

$<\/p>\n

\n251.8\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n212.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\u00a0
\nAmounts attributable to ITT Inc.:<\/p>\n

Income from continuing operations
\n$<\/p>\n

\n102.5\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n86.6\n<\/p>\n

$<\/p>\n

\n253.1\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n211.8\n<\/p>\n

\n\u00a0\n<\/p>\n

(Loss) income from discontinued operations, net of tax<\/p>\n

\n(0.1\n<\/p>\n

\n)\n<\/p>\n

\n0.9\n<\/p>\n

\n(1.3\n<\/p>\n

\n)\n<\/p>\n

\n0.9\n<\/p>\n

\n\u00a0\n<\/p>\n

Net income attributable to ITT Inc.
\n$<\/p>\n

\n102.4\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n87.5\n<\/p>\n

$<\/p>\n

\n251.8\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n212.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\u00a0
\nEarnings per share attributable to ITT Inc.:<\/p>\n

Basic:<\/p>\n

Continuing operations
\n$<\/p>\n

\n1.24\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n1.01\n<\/p>\n

$<\/p>\n

\n3.03\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n2.46\n<\/p>\n

\n\u00a0\n<\/p>\n

Discontinued operations<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n0.01\n<\/p>\n

\n(0.02\n<\/p>\n

\n)\n<\/p>\n

\n0.01\n<\/p>\n

\n\u00a0\n<\/p>\n

Net income
\n$<\/p>\n

\n1.24\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n1.02\n<\/p>\n

$<\/p>\n

\n3.01\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n2.47\n<\/p>\n

\n\u00a0\n<\/p>\n

Diluted:<\/p>\n

Continuing operations
\n$<\/p>\n

\n1.23\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n1.00\n<\/p>\n

$<\/p>\n

\n3.02\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n2.45\n<\/p>\n

\n\u00a0\n<\/p>\n

Discontinued operations<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n0.01\n<\/p>\n

\n(0.02\n<\/p>\n

\n)\n<\/p>\n

\n0.01\n<\/p>\n

\n\u00a0\n<\/p>\n

Net income
\n$<\/p>\n

\n1.23\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n1.01\n<\/p>\n

$<\/p>\n

\n3.00\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n2.46\n<\/p>\n

\n\u00a0\n<\/p>\n

\u00a0
\nWeighted average common shares \u2013 basic<\/p>\n

\n82.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\n85.9\n<\/p>\n

\n83.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n86.1\n<\/p>\n

\n\u00a0\n<\/p>\n

Weighted average common shares \u2013 diluted<\/p>\n

\n83.0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n86.3\n<\/p>\n

\n83.9\n<\/p>\n

\n\u00a0\n<\/p>\n

\n86.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n<\/div>\n

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED)
\n(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
\nAs of the Period Ended
\nOctober 1,
2022<\/p>\n

December 31,
2021<\/p>\n

\u00a0
\nAssets<\/p>\n

Current assets:<\/p>\n

Cash and cash equivalents
\n$<\/p>\n

\n514.5\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n647.5\n<\/p>\n

\n\u00a0\n<\/p>\n

Receivables, net<\/p>\n

\n628.9\n<\/p>\n

\n\u00a0\n<\/p>\n

\n555.1\n<\/p>\n

\n\u00a0\n<\/p>\n

Inventories<\/p>\n

\n525.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n430.9\n<\/p>\n

\n\u00a0\n<\/p>\n

Other current assets<\/p>\n

\n117.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n88.6\n<\/p>\n

\n\u00a0\n<\/p>\n

Total current assets<\/p>\n

\n1,785.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,722.1\n<\/p>\n

\n\u00a0\n<\/p>\n

Non-current assets:<\/p>\n

Plant, property and equipment, net<\/p>\n

\n491.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n509.1\n<\/p>\n

\n\u00a0\n<\/p>\n

Goodwill<\/p>\n

\n947.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n924.3\n<\/p>\n

\n\u00a0\n<\/p>\n

Other intangible assets, net<\/p>\n

\n116.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n85.7\n<\/p>\n

\n\u00a0\n<\/p>\n

Other non-current assets<\/p>\n

\n349.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n324.2\n<\/p>\n

\n\u00a0\n<\/p>\n

Total non-current assets<\/p>\n

\n1,904.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,843.3\n<\/p>\n

\n\u00a0\n<\/p>\n

Total assets
\n$<\/p>\n

\n3,690.2\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n3,565.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Liabilities and Shareholders\u2019 Equity<\/p>\n

Current liabilities:<\/p>\n

Commercial paper and current maturities of long-term debt
\n$<\/p>\n

\n541.4\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n197.6\n<\/p>\n

\n\u00a0\n<\/p>\n

Accounts payable<\/p>\n

\n390.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\n373.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Accrued liabilities<\/p>\n

\n337.0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n357.3\n<\/p>\n

\n\u00a0\n<\/p>\n

Total current liabilities<\/p>\n

\n1,269.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n928.3\n<\/p>\n

\n\u00a0\n<\/p>\n

Non-current liabilities:<\/p>\n

Postretirement benefits<\/p>\n

\n170.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n199.9\n<\/p>\n

\n\u00a0\n<\/p>\n

Other non-current liabilities<\/p>\n

\n185.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n206.5\n<\/p>\n

\n\u00a0\n<\/p>\n

Total non-current liabilities<\/p>\n

\n355.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n406.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Total liabilities<\/p>\n

\n1,624.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\n1,334.7\n<\/p>\n

\n\u00a0\n<\/p>\n

Shareholders\u2019 equity:<\/p>\n

Common stock:<\/p>\n

Authorized \u2013 250.0 shares, $1 par value per share<\/p>\n

Issued and outstanding \u2013 82.7 shares and 85.5 shares, respectively<\/p>\n

\n82.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\n85.5\n<\/p>\n

\n\u00a0\n<\/p>\n

Retained earnings<\/p>\n

\n2,411.8\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,461.6\n<\/p>\n

\n\u00a0\n<\/p>\n

Total accumulated other comprehensive loss<\/p>\n

\n(437.5\n<\/p>\n

\n)\n<\/p>\n

\n(321.3\n<\/p>\n

\n)\n<\/p>\n

Total ITT Inc. shareholders\u2019 equity<\/p>\n

\n2,057.0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,225.8\n<\/p>\n

\n\u00a0\n<\/p>\n

Noncontrolling interests<\/p>\n

\n8.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n4.9\n<\/p>\n

\n\u00a0\n<\/p>\n

Total shareholders\u2019 equity<\/p>\n

\n2,065.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n2,230.7\n<\/p>\n

\n\u00a0\n<\/p>\n

Total liabilities and shareholders\u2019 equity
\n$<\/p>\n

\n3,690.2\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n3,565.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n<\/div>\n

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
\n(IN MILLIONS)<\/p>\n

\u00a0
\nFor the Nine Months Ended<\/p>\n

\nOctober 1,
\n
2022\n<\/p>\n

\nOctober 2,
\n
2021\n<\/p>\n

Operating Activities<\/p>\n

Income from continuing operations attributable to ITT Inc.
\n$<\/p>\n

\n253.1\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n211.8\n<\/p>\n

\n\u00a0\n<\/p>\n

Adjustments to income from continuing operations:<\/p>\n

Depreciation and amortization<\/p>\n

\n81.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n85.3\n<\/p>\n

\n\u00a0\n<\/p>\n

Equity-based compensation<\/p>\n

\n13.6\n<\/p>\n

\n\u00a0\n<\/p>\n

\n11.8\n<\/p>\n

\n\u00a0\n<\/p>\n

Asbestos-related benefit, net<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(74.4\n<\/p>\n

\n)\n<\/p>\n

Other non-cash charges, net<\/p>\n

\n20.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n17.9\n<\/p>\n

\n\u00a0\n<\/p>\n

Divestiture of asbestos-related assets and liabilities<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(398.0\n<\/p>\n

\n)\n<\/p>\n

Changes in assets and liabilities:<\/p>\n

Change in receivables<\/p>\n

\n(120.8\n<\/p>\n

\n)\n<\/p>\n

\n(63.0\n<\/p>\n

\n)\n<\/p>\n

Change in inventories<\/p>\n

\n(111.3\n<\/p>\n

\n)\n<\/p>\n

\n(62.6\n<\/p>\n

\n)\n<\/p>\n

Change in contract assets<\/p>\n

\n(15.6\n<\/p>\n

\n)\n<\/p>\n

\n0.6\n<\/p>\n

\n\u00a0\n<\/p>\n

Change in contract liabilities<\/p>\n

\n24.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(10.5\n<\/p>\n

\n)\n<\/p>\n

Change in accounts payable<\/p>\n

\n54.0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n48.1\n<\/p>\n

\n\u00a0\n<\/p>\n

Change in accrued expenses<\/p>\n

\n(30.6\n<\/p>\n

\n)\n<\/p>\n

\n19.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Change in income taxes<\/p>\n

\n(12.1\n<\/p>\n

\n)\n<\/p>\n

\n129.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Other, net<\/p>\n

\n(41.2\n<\/p>\n

\n)\n<\/p>\n

\n(43.7\n<\/p>\n

\n)\n<\/p>\n

Net Cash \u2013 Operating Activities<\/p>\n

\n115.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(127.9\n<\/p>\n

\n)\n<\/p>\n

Investing Activities<\/p>\n

Capital expenditures<\/p>\n

\n(73.7\n<\/p>\n

\n)\n<\/p>\n

\n(52.6\n<\/p>\n

\n)\n<\/p>\n

Acquisitions, net of cash acquired<\/p>\n

\n(146.9\n<\/p>\n

\n)\n<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

Payments to acquire interest in unconsolidated subsidiaries<\/p>\n

\n(25.6\n<\/p>\n

\n)\n<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

Other, net<\/p>\n

\n1.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(1.3\n<\/p>\n

\n)\n<\/p>\n

Net Cash \u2013 Investing Activities<\/p>\n

\n(244.8\n<\/p>\n

\n)\n<\/p>\n

\n(53.9\n<\/p>\n

\n)\n<\/p>\n

Financing Activities<\/p>\n

Commercial paper, net borrowings<\/p>\n

\n363.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n95.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Long-term debt, repayments<\/p>\n

\n(1.1\n<\/p>\n

\n)\n<\/p>\n

\n(1.3\n<\/p>\n

\n)\n<\/p>\n

Share repurchases under repurchase plan<\/p>\n

\n(245.6\n<\/p>\n

\n)\n<\/p>\n

\n(100.7\n<\/p>\n

\n)\n<\/p>\n

Payments for taxes related to net share settlement of stock incentive plans<\/p>\n

\n(8.5\n<\/p>\n

\n)\n<\/p>\n

\n(11.0\n<\/p>\n

\n)\n<\/p>\n

Dividends paid<\/p>\n

\n(66.1\n<\/p>\n

\n)\n<\/p>\n

\n(57.0\n<\/p>\n

\n)\n<\/p>\n

Other, net<\/p>\n

\n1.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n0.4\n<\/p>\n

\n\u00a0\n<\/p>\n

Net Cash \u2013 Financing Activities<\/p>\n

\n43.0\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(74.2\n<\/p>\n

\n)\n<\/p>\n

Exchange rate effects on cash and cash equivalents<\/p>\n

\n(46.3\n<\/p>\n

\n)\n<\/p>\n

\n(18.5\n<\/p>\n

\n)\n<\/p>\n

Net cash \u2013 operating activities of discontinued operations<\/p>\n

\n(0.1\n<\/p>\n

\n)\n<\/p>\n

\n0.7\n<\/p>\n

\n\u00a0\n<\/p>\n

Net change in cash and cash equivalents<\/p>\n

\n(133.0\n<\/p>\n

\n)\n<\/p>\n

\n(273.8\n<\/p>\n

\n)\n<\/p>\n

Cash and cash equivalents \u2013 beginning of year (includes restricted cash of $0.8 and $0.8, respectively)<\/p>\n

\n648.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n860.6\n<\/p>\n

\n\u00a0\n<\/p>\n

Cash and Cash Equivalents \u2013 End of Period (includes restricted cash of $0.8 and $1.0, respectively)
\n$<\/p>\n

\n515.3\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n586.8\n<\/p>\n

\n\u00a0\n<\/p>\n

Supplemental Disclosures of Cash Flow Information<\/p>\n

Cash paid during the year for:<\/p>\n

Interest
\n$<\/p>\n

\n5.7\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n3.3\n<\/p>\n

\n\u00a0\n<\/p>\n

Income taxes, net of refunds received
\n$<\/p>\n

\n63.5\n<\/p>\n

\n\u00a0\n<\/p>\n

$<\/p>\n

\n50.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n<\/div>\n

Key Performance Indicators and Non-GAAP Measures<\/p>\n

Management reviews a variety of key performance indicators including revenue, segment operating income and margins, earnings per share, order growth, and backlog, some of which are calculated on a non-GAAP basis. In addition, we consider certain measures to be useful to management and investors when evaluating our operating performance for the periods presented. These measures provide a tool for evaluating our ongoing operations and management of assets from period to period. This information can assist investors in assessing our financial performance and measures our ability to generate capital for deployment among competing strategic alternatives and initiatives, including, but not limited to, acquisitions, dividends, and share repurchases. Some of these metrics, however, are not measures of financial performance under accounting principles generally accepted in the United States of America (GAAP) and should not be considered a substitute for measures determined in accordance with GAAP. We consider the following non-GAAP measures, which may not be comparable to similarly titled measures reported by other companies, to be key performance indicators for purposes of our reconciliation tables.
\nOrganic Revenues and Organic Orders are defined, respectively, as revenue and orders, excluding the impacts of foreign currency fluctuations and acquisitions. The period-over-period change resulting from foreign currency fluctuations is estimated using a fixed exchange rate for both the current and prior periods. Management believes that reporting organic revenue and organic orders provides useful information to investors by helping identify underlying trends in our business and facilitating comparisons of our revenue performance with prior and future periods and to our peers.
\nAdjusted Operating Income and Adjusted Segment Operating Income are defined, respectively, as total operating income and segment operating income, adjusted to exclude special items that include, but are not limited to, restructuring, severance, certain asset impairment charges, certain acquisition-related impacts, unusual or infrequent operating items and, for 2021, asbestos-related impacts. Special items represent charges or credits that impact current results, which management views as unrelated to the Company’s ongoing operations and performance. Adjusted Operating Margin and Adjusted Segment Operating Margin are defined as adjusted operating income or adjusted segment operating income, respectively, divided by revenue. We believe these financial measures are useful to investors and other users of our financial statements in evaluating ongoing operating profitability, as well as in evaluating operating performance in relation to our competitors.
\nAdjusted Income from Continuing Operations and Adjusted EPS are defined, respectively, as income from continuing operations attributable to ITT Inc. and income from continuing operations attributable to ITT Inc. per diluted share, adjusted to exclude special items that include, but are not limited to, restructuring, severance, certain asset impairment charges, certain acquisition-related impacts, income tax settlements or adjustments, unusual or infrequent items, and, for 2021, asbestos-related impacts. Special items represent charges or credits, on an after-tax basis, that impact current results which management views as unrelated to the Company’s ongoing operations and performance. The after-tax basis of each special item is determined using the jurisdictional tax rate of where the expense or benefit occurred. We believe that adjusted income from continuing operations is useful to investors and other users of our financial statements in evaluating ongoing operating profitability, as well as in evaluating operating performance in relation to our competitors.
\nFree Cash Flow is defined as net cash provided by operating activities less capital expenditures. Free Cash Flow Margin is defined as free cash flow divided by revenue. We believe that free cash flow and free cash flow margin provides useful information to investors as it provides insight into a primary cash flow metric used by management to monitor and evaluate cash flows generated by our operations.<\/p>\n

\n<\/div>\n

ITT Inc. Non-GAAP Reconciliation
\nReported vs. Organic Revenue \/ Orders
\nThird Quarter 2022 & 2021
\n(In Millions)
\n(all amounts unaudited)<\/p>\n

\u00a0<\/p>\n

(As Reported – GAAP)<\/p>\n

(As Adjusted – Organic)<\/p>\n

\u00a0<\/p>\n

(A)<\/p>\n

(B)<\/p>\n

(C)<\/p>\n

(D)<\/p>\n

(E)<\/p>\n

(F) = A-D-E<\/p>\n

(G) =C-D-E<\/p>\n

(H) = G \/ B<\/p>\n

$ Change<\/p>\n

% Change<\/p>\n

Revenue \/<\/p>\n

$ Change<\/p>\n

% Change<\/p>\n

2022 vs.
2021<\/p>\n

2022 vs.
2021<\/p>\n

Acquisitions<\/p>\n

FX Impact<\/p>\n

Orders<\/p>\n

Adj. 2022
vs. 2021<\/p>\n

Adj. 2022
vs. 2021<\/p>\n

Q3 2022<\/p>\n

Q3 2021<\/p>\n

Q3 2022<\/p>\n

Q3 2022<\/p>\n

Q3 2022<\/p>\n

\u00a0
\nRevenue<\/span><\/p>\n

ITT Inc.<\/p>\n

\n$\n<\/p>\n

\n753.6\n<\/p>\n

\n$\n<\/p>\n

\n689.6\n<\/p>\n

\n$\n<\/p>\n

\n64.0\n<\/p>\n

\n9.3\n<\/p>\n

\n%\n<\/p>\n

\n$\n<\/p>\n

\n15.3\n<\/p>\n

\n$\n<\/p>\n

\n(54.3\n<\/p>\n

\n)\n<\/p>\n

\n$\n<\/p>\n

\n792.6\n<\/p>\n

\n$\n<\/p>\n

\n103.0\n<\/p>\n

\n14.9\n<\/p>\n

\n%\n<\/p>\n

\u00a0
\nMotion Technologies<\/p>\n

\n\u00a0\n<\/p>\n

\n342.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n332.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n9.9\n<\/p>\n

\n3.0\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(39.6\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n381.8\n<\/p>\n

\n\u00a0\n<\/p>\n

\n49.5\n<\/p>\n

\n14.9\n<\/p>\n

\n%\n<\/p>\n

Industrial Process<\/p>\n

\n\u00a0\n<\/p>\n

\n248.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n210.7\n<\/p>\n

\n\u00a0\n<\/p>\n

\n37.8\n<\/p>\n

\n17.9\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n15.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(8.2\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n241.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n30.7\n<\/p>\n

\n14.6\n<\/p>\n

\n%\n<\/p>\n

Connect & Control Technologies<\/p>\n

\n\u00a0\n<\/p>\n

\n163.2\n<\/p>\n

\n\u00a0\n<\/p>\n

\n147.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n16.1\n<\/p>\n

\n10.9\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(6.6\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n169.8\n<\/p>\n

\n\u00a0\n<\/p>\n

\n22.7\n<\/p>\n

\n15.4\n<\/p>\n

\n%\n<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

\u00a0
\nOrders<\/span><\/p>\n

ITT Inc.<\/p>\n

\n$\n<\/p>\n

\n780.9\n<\/p>\n

\n$\n<\/p>\n

\n731.5\n<\/p>\n

\n$\n<\/p>\n

\n49.4\n<\/p>\n

\n6.8\n<\/p>\n

\n%\n<\/p>\n

\n$\n<\/p>\n

\n12.5\n<\/p>\n

\n$\n<\/p>\n

\n(55.9\n<\/p>\n

\n)\n<\/p>\n

\n$\n<\/p>\n

\n824.3\n<\/p>\n

\n$\n<\/p>\n

\n92.8\n<\/p>\n

\n12.7\n<\/p>\n

\n%\n<\/p>\n

\u00a0
\nMotion Technologies<\/p>\n

\n\u00a0\n<\/p>\n

\n342.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n334.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n8.2\n<\/p>\n

\n2.5\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(39.2\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n381.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n47.4\n<\/p>\n

\n14.2\n<\/p>\n

\n%\n<\/p>\n

Industrial Process<\/p>\n

\n\u00a0\n<\/p>\n

\n271.9\n<\/p>\n

\n\u00a0\n<\/p>\n

\n242.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n29.4\n<\/p>\n

\n12.1\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n12.5\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(10.7\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n270.1\n<\/p>\n

\n\u00a0\n<\/p>\n

\n27.6\n<\/p>\n

\n11.4\n<\/p>\n

\n%\n<\/p>\n

Connect & Control Technologies<\/p>\n

\n\u00a0\n<\/p>\n

\n167.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n155.4\n<\/p>\n

\n\u00a0\n<\/p>\n

\n11.9\n<\/p>\n

\n7.7\n<\/p>\n

\n%\n<\/p>\n

\n\u00a0\n<\/p>\n

\n–\n<\/p>\n

\n\u00a0\n<\/p>\n

\n(6.0\n<\/p>\n

\n)\n<\/p>\n

\n\u00a0\n<\/p>\n

\n173.3\n<\/p>\n

\n\u00a0\n<\/p>\n

\n17.9\n<\/p>\n

\n11.5\n<\/p>\n

\n%\n<\/p>\n

\u00a0<\/p>\n

\u00a0
\nNote: Excludes intercompany eliminations<\/p>\n

Immaterial differences due to rounding<\/p>\n

Contacts <\/p>\n

\nInvestor Contact
Mark Macaluso
\n
+1 914-641-2064
\n
mark.macaluso@itt.com<\/a><\/p>\n

Media Contact
Kellie Harris
\n
+1 914-641-2103
\n
kellie.harris@itt.com<\/a>\n<\/p>\n

Read full story here <\/a><\/p>","protected":false},"excerpt":{"rendered":"

9% revenue growth (15% organic) driven by volume and pricing recovery across all businesses; expect to be at upper end of revenue guidance 7% orders growth (13% organic) driven by strong pump projects, connectors and aerospace and defense components demand 17.6% segment operating margin (18.2% adjusted) and 23% EPS growth (21% adjusted); strong improvement on […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[49630],"tags":[],"settori":[],"slider_categorie_and_home_page":[],"class_list":["post-831984","post","type-post","status-publish","format-standard","hentry","category-real-estate-in-asia-pacific"],"acf":[],"yoast_head":"\nITT Reports 2022 Third Quarter Earnings Per Share (EPS) of $1.23, Adjusted EPS Of $1.20 - BeBeez<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/itt-reports-2022-third-quarter-earnings-per-share-eps-of-1-23-adjusted-eps-of-1-20\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ITT Reports 2022 Third Quarter Earnings Per Share (EPS) of $1.23, Adjusted EPS Of $1.20 - 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