ITT Q2 EPS $1.31, revenue up 14% YoY; raises FY2023 margin and EPS guidance

ITT INC.

2023-Q2 EPS reported $2.51 revenue$1,631,800,000

Revenue $833.9M, up 13.7% YoY (12.5% organic); segment operating margin 18.3% (adj. 18.7%), up 270 bps.
EPS $1.31 (+44%), adjusted EPS $1.33 (+36%); driven by volume, pricing, and share repurchases.
Industrial Process revenue +22.5%, operating income +69.8%; Motion Tech revenue +11.3%, op income +22.8%.
New FY2023 guidance: segment op margin 17.4%-18.2% (adj. 17.7%-18.5%); adjusted EPS $4.95-$5.15 (up 11%-16%).
Free cash flow Q2 $122M (+$83M); YTD free cash flow $152M, up $145M versus prior year.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ITT INC. reported second quarter ended July 1, 2023 results: revenue $833.9, EPS $1.31. Guidance raised.

Period: second quarter ended July 1, 2023
Revenue: $833.9
EPS: $1.31
Guidance: raised
Result: reported results

Exact text from the filing

million. On a year-to-date basis, ITT generated free cash flow of $152 million, up $145 million versus 2022. Table 1. Second Quarter Performance Q2 2023 Q2 2022 Change Revenue $ 833.9 $ 733.3 13.7 % Organic Growth 12.5 % Segment Operating Income $ 152.5 $ 114.3 33.4 % Segment Operating Margin 18.3 % 15.6 % 270 bps Adjusted Segment Operating Income $ 156.2 $

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Source: SEC EDGAR

accession 0001157523-23-001238

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