secwatch.observer — SEC 8-K summary
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Issuer:     ITT INC. (ITT)
CIK:        0000216228
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000216228-24-000050
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ITT Q2 EPS $1.45/$1.49 adj; acquires kSARIA ~$475M, divests Wolverine ~$171M; maintains FY guidance
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- Q2 revenue $905.9M (+8.6% reported, +6% organic); EPS $1.45 (+10.7%), adjusted EPS $1.49 (+12%).
- Operating margin expanded 60 bps to 17.6%; adjusted operating margin 18.0%.
- Signed agreement to acquire kSARIA for ~$475M; kSARIA had ~$175M sales in 2023.
- Completed divestiture of Wolverine for ~$171M cash; reduces automotive exposure.
- Maintained FY2024 guidance: revenue growth 9-12%, EPS $5.51-$5.76, free cash flow $435-475M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/216228/000021622824000050/0000216228-24-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/216228/000021622824000050/itt-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000216228-24-000050

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer