Engineered components manufacturer for critical industries ITT Inc. (NYSE: ITT) will be announcing earnings results tomorrow before market hours. Here’s what to expect.
ITT met analysts’ revenue expectations last quarter, reporting revenues of $929 million, up 12% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations.
Is ITT a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting ITT’s revenue to be flat year on year at $907.8 million, slowing from the 14.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.44 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ITT has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.6% on average.
Looking at ITT’s peers in the gas and liquid handling segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 2.9%, missing analysts’ expectations by 0.5%, and Graco reported revenues up 7.3%, in line with consensus estimates. Gorman-Rupp traded up 6.1% following the results while Graco was also up 2.1%.
Read our full analysis of Gorman-Rupp’s results here and Graco’s results here.
Investors in the gas and liquid handling segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. ITT is up 4.4% during the same time and is heading into earnings with an average analyst price target of $159.73 (compared to the current share price of $136.89).
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