ITT Q1 EPS $1.20, adj $1.17, revenue $798M (+10%); raises FY adj EPS guidance

ITT INC.

2023-Q1 EPS reported $1.20 revenue$797,900,000

Revenue $797.9M (+10% YoY, organic +10.3%); EPS $1.20 (+36%), adjusted EPS $1.17 (+21%).
Segment op margin 17.3% (+270bps); adjusted margin 17.5% (+150bps); Industrial Process revenue +31.8%.
Motion Tech revenue -1.4% (organic +2.2%) on FX/Ukraine; CCT revenue +8.4% (organic +9.8%) on aerospace demand.
Full-year adj EPS guidance raised to $4.65-$4.95 (up 5-11%); revenue growth 7-9% unchanged.
Operating cash flow $58M vs -$2.7M; free cash flow $29M vs -$32.7M; acquired Micro-Mode Products.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ITT INC. reported the first quarter ended April 1, 2023 results: revenue $ 797.9 $ 726.2 9.9 %, EPS $ 1.20 $ 0.88 36.4 %. Guidance raised.

Period: the first quarter ended April 1, 2023
Revenue: $ 797.9 $ 726.2 9.9 %
EPS: $ 1.20 $ 0.88 36.4 %
Guidance: raised
Result: reported results

Exact text from the filing

inventory management. Free cash flow for the quarter of $29 million increased $62 million versus prior year. Table 1. First Quarter Performance Q1 2023 Q1 2022 Change Revenue $ 797.9 $ 726.2 9.9 % Organic Growth 10.3 % Segment Operating Income $ 138.1 $ 105.8 30.5 % Segment Operating Margin 17.3 % 14.6 % 270 bps Adjusted Segment Operating Income $ 140.0 $

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Source: SEC EDGAR

accession 0001157523-23-000717

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