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ITT: Q2 Earnings Insights

Benzinga Insights
·1 min read

Shares of ITT (NYSE:ITT) were flat in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 38.71% year over year to $0.57, which beat the estimate of $0.38.

Revenue of $514,700,000 declined by 28.50% from the same period last year, which missed the estimate of $516,610,000.

Looking Ahead

ITT hasn't issued any earnings guidance for the time being.

ITT hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Jul 31, 2020

View more earnings on ITT

Time: 09:00 AM

ET Webcast URL: https://www.itt.com/investors/events

Recent Stock Performance

52-week high: $75.56

Company's 52-week low was at $35.41

Price action over last quarter: Up 24.21%

Company Profile

ITT is a diversified industrial conglomerate with nearly $3 billion in sales. After the spin-offs of Xylem and Exelis in 2011, the company's products primarily include brake pads, shock absorbers, pumps, valves, connectors, and switches. Its customers include original-equipment and Tier 1 manufacturers as well as aftermarket customers. ITT uses a network of approximately 700 independent distributors, which accounts for about one third of overall revenue. Nearly three fourths of the company's sales are made in North America and Europe. ITT's primary end markets include automotive, rail, oil and gas, aerospace and defense, chemical, mining, and general industrial.

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