NYSE$ITT
ITT Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
ITT's Q4 2023 earnings were reported, featuring EPS of $1.12 and adjusted EPS of $1.34. Revenue increased by 7% year-over-year, with organic growth of 4%.
ITT Inc. reported a 7% increase in revenue for Q4 2023, with 4% organic growth. EPS was reported at $1.12, a decrease of 19%, while adjusted EPS reached $1.34, a 4% increase. The revenue growth was primarily driven by higher Friction original equipment volumes in Motion Technologies and pricing actions in Connect & Control Technologies and Industrial Process.
- Revenue increased by 7% year-over-year, with organic growth of 4% in Q4 2023.
- Earnings per share (EPS) was $1.12, down 19%, and adjusted EPS was $1.34, up 4% compared to the prior year.
- Operating cash flow for the quarter increased by 5% to $170 million.
- The company anticipates revenue growth of 9% to 12% for 2024.
Headline financials
Revenue & EPS history
ITT · Revenue · Quarterly
$829M
Revenue by segment
ITT · $823M total across 3 segments · Q3 2023
- Motion Technologies$360M+5.1%43.7%
- Industrial Process$280M+12.6%34.0%
- Connect & Control Technologies$184M+12.7%22.3%
Forward guidance
ITT anticipates revenue growth of 9% to 12%, with organic growth of 3% to 6%. The operating margin is expected to be between 16.7% and 17.3%, with adjusted operating margin of 16.9% to 17.5%. EPS is projected to be $5.37 to $5.82, and adjusted EPS is expected to be $5.45 to $5.90. Free cash flow is estimated to be $435 million to $475 million for 2024.
Tailwinds
- Revenue growth of 9% to 12% is expected.
- Organic growth of 3% to 6% is anticipated.
- Operating margin is projected between 16.7% and 17.3%.
- Adjusted operating margin of 16.9% to 17.5% is expected.
- Free cash flow is estimated to be $435 million to $475 million.
Headwinds
- Impacts of foreign currency fluctuations are uncertain.
- Impacts of potential acquisitions are difficult to predict.
- Impacts of certain other special items are inherently uncertain.
- Reconciliations of organic revenue growth to GAAP measures require unreasonable efforts.
- Reconciliations of adjusted operating margin to GAAP measures require unreasonable efforts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+1.9%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+2.1%
Avg return
30 days after
65%
47 / 72 earnings
Positive
+17.4%
Q3 2019
Best reaction
-9.9%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | -2.8% | -10.0% | |
| Q4 2025 | +9.1% | +8.3% | +0.2% | |
| Q3 2025 | +11.2% | +5.5% | +4.7% | |
| Q1 2025 | +0.7% | +3.6% | +9.9% | |
| Q4 2024 | -2.1% | -2.6% | -7.2% | |
| Q3 2024 | +0.2% | -2.8% | +7.7% | |
| Q2 2024 | -8.3% | -8.8% | -1.6% | |
| Q1 2024 | -0.8% | +4.1% | +2.8% | |
| Q4 2023 | -2.7% | -4.9% | +1.1% | |
| Q3 2023 | +7.7% | +6.8% | +17.3% | |
| Q2 2023 | +3.0% | +2.6% | +5.2% | |
| Q1 2023 | +0.9% | -1.3% | -0.6% | |
| Q4 2022 | -0.4% | +2.5% | -5.3% | |
| Q3 2022 | +1.5% | +3.2% | +13.8% | |
| Q2 2022 | +4.2% | +3.8% | -4.3% | |
| Q1 2022 | +6.7% | +0.3% | +5.0% | |
| Q4 2021 | -3.1% | -7.5% | -18.9% | |
| Q3 2021 | +3.2% | +6.5% | -1.7% | |
| Q2 2021 | +0.7% | +1.3% | -3.3% | |
| Q1 2021 | +1.6% | -4.6% | -3.9% | |
| Q4 2020 | +4.4% | +8.6% | +14.8% | |
| Q3 2020 | -0.7% | +0.0% | +19.5% | |
| Q2 2020 | +0.7% | +1.2% | +8.5% | |
| Q1 2020 | -9.9% | -9.0% | +9.4% | |
| Q4 2019 | -3.5% | -10.2% | -43.9% | |
| Q3 2019 | +17.4% | +15.5% | +17.4% | |
| Q2 2019 | -6.2% | -5.9% | -6.2% | |
| Q1 2019 | +3.8% | +3.0% | -3.2% | |
| Q4 2018 | +4.0% | +3.4% | -0.5% | |
| Q3 2018 | +5.5% | +7.4% | +5.1% | |
| Q2 2018 | +10.1% | +8.8% | +4.8% | |
| Q1 2018 | +5.9% | +6.7% | +7.6% | |
| Q4 2017 | -0.3% | +0.9% | -0.8% | |
| Q3 2017 | +9.7% | +10.2% | +14.4% | |
| Q2 2017 | +2.2% | +1.1% | +0.1% | |
| Q1 2017 | -1.3% | -4.5% | -9.2% | |
| Q4 2016 | +2.6% | -0.6% | -2.3% | |
| Q3 2016 | -0.5% | +4.4% | +20.7% | |
| Q2 2016 | +5.2% | +7.2% | +16.1% | |
| Q1 2016 | -8.5% | — | — | |
| Q4 2015 | +6.2% | — | — | |
| Q3 2015 | +2.2% | — | — | |
| Q2 2015 | -2.1% | — | — | |
| Q1 2015 | +2.9% | — | — | |
| Q4 2014 | +4.5% | — | — | |
| Q3 2014 | +2.7% | — | — | |
| Q2 2014 | -1.9% | — | — | |
| Q1 2014 | +2.0% | — | — | |
| Q4 2013 | +3.3% | — | — | |
| Q3 2013 | +9.2% | — | — | |
| Q2 2013 | +10.1% | — | — | |
| Q1 2013 | +3.3% | — | — | |
| Q4 2012 | +4.3% | — | — | |
| Q3 2012 | +3.4% | — | — | |
| Q2 2012 | +12.0% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | +6.5% | — | — | |
| Q3 2011 | +2.9% | — | — | |
| Q2 2011 | -4.7% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q2 2010 | -1.5% | — | — | |
| Q1 2010 | -3.3% | — | — | |
| Q1 2009 | +1.9% | — | — | |
| Q4 2007 | +1.9% | — | — | |
| Q4 2009 | +1.9% | — | — | |
| Q3 2009 | -0.1% | — | — | |
| Q3 2008 | -0.1% | — | — | |
| Q4 2008 | -1.7% | — | — | |
| Q2 2009 | -1.7% | — | — | |
| Q2 2008 | -1.7% | — | — |
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