Notable News Spotlight: ITT Inc. (NYSE: ITT)

On Friday, ITT Inc. (NYSE: ITT) spotted trading -1.92% off 52-week high price. On the other end, the stock has been noted 53.89% away from the low price over the last 52-weeks. The stock changed 0.26% to recent value of $69.08. The stock transacted 331894 shares during most recent day however it has an average volume of 563.86K shares. The company has 87.38M of outstanding shares and 87.25M shares were floated in the market.

ITT Inc. (ITT) recently stated 2019 third-quarter financial results that reflected the company’s strong operational execution and share gain strategies in key global markets. The company is also raising its 2019 earnings per share guidance and announcing a $500M share repurchase program.

Revenue and Orders

Revenue grew 5 percent, including a 2-point unfavorable impact from foreign exchange and 3-point benefit from our planned Rheinhütte Pumpen and Matrix Composites acquisitions. Organic revenue (defined as total revenue not including foreign exchange, acquisitions and divestitures) increased 4 percent, driven by the strength of our diversified portfolio as our industrial businesses grew 10 percent and transportation grew 2 percent, over offsetting a 5 percent decline in oil and gas.

Organic orders declined 4 percent, Because of pump project delays and difficult comparisons, together with slower industrial demand. Transportation orders were flat as growth in rail and commercial aerospace was offset by the timing of defense programs. Contrast to the second quarter of 2019, the company’s third quarter organic orders were flat.

Section Operating Income

Section operating income declined 1 percent to $107M and generated a margin of 15.0 percent, which included higher acquisition-related costs and restructuring charges. Adjusted section operating income grew 10 percent to $118M and produced a record margin of 16.6 percent. This improvement was driven by continued productivity and supply chain improvements and cost containment actions, as well as increased volume. These gains were partially offset by higher commodity costs and tariffs, and planned investments.

Earnings Per Share

GAAP EPS grew to $1.34, contrast to $1.25 in the previous year, primarily Because of a $52M increase in net asbestos benefit driven by effective insurance recovery strategies, partially offset by a $38M gain on sale of a former connector operating location in the third quarter of 2018 and higher acquisition, restructuring, and legal costs. Adjusted EPS grew 18 percent to a record $0.97, reflecting the increase in adjusted section operating income, a 21 percent reduction in corporate costs, and a lower tax rate.

Its earnings per share (EPS) expected to touch remained 24.50% for this year while earning per share for the next 5-years is expected to reach at 12.00%. ITT has a gross margin of 31.80% and an operating margin of 14.20% while its profit margin remained 11.00% for the last 12 months. According to the most recent quarter its current ratio was 1.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of 3.86% from the mean of 20 days, 10.96% from mean of 50 days SMA and performed 14.30% from mean of 200 days price. Company’s performance for the week was -0.30%, 15.71% for month and YTD performance remained 43.11%.

 

Leave a comment

(*) Required, Your email will not be published