ITT: Q1 Earnings Snapshot

Associated Press Finance
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STAMFORD, Conn. (AP) — STAMFORD, Conn. (AP) — ITT Corp. (ITT) on Thursday reported first-quarter earnings of $100 million.

The Stamford, Connecticut-based company said it had net income of $1.20 per share. Earnings, adjusted for non-recurring gains, came to $1.17 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The supplier of parts and services to a wide variety of industries posted revenue of $797.9 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $773.1 million.

ITT expects full-year earnings in the range of $4.65 to $4.95 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ITT at https://www.zacks.com/ap/ITT

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