ITT Posts Preliminary Revenue Decline, Plans Share Buy Back

Dow Jones04-10

By Katherine Hamilton

ITT anticipates first-quarter revenue to inch down, and plans to buy back up to $500 million in shares.

The engineered components manufacturer shared preliminary earnings Thursday showing it expects first-quarter revenue to be more than $900 million.

That compares with $911 million the year before and $901 million expected by analysts polled by FactSet. ITT said its revenue is driven by strength in the pumps aftermarket, connectors and rail, but offset by lower aerospace demand.

Earnings are anticipated to be $1.29 a share to $1.35 a share. Stripping out one-time items, adjusted earnings per share are set to be $1.43 to $1.45. Analysts polled by FactSet forecast $1.43 a share.

The Stamford, Conn., company expects orders to grow 2% to 7%, also driven by pump-project and connector awards.

ITT also said it plans to repurchase up to $500 million in shares, utilizing a remaining buyback authorization from 2023.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 10, 2025 07:28 ET (11:28 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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ITT said its revenue is driven by strength in the pumps aftermarket, connectors and rail, but offset by lower aerospace demand. \n\n\n  Earnings are anticipated to be $1.29 a share to $1.35 a share. Stripping out one-time items, adjusted earnings per share are set to be $1.43 to $1.45. Analysts polled by FactSet forecast $1.43 a share. \n\n\n  The Stamford, Conn., company expects orders to grow 2% to 7%, also driven by pump-project and connector awards. \n\n\n  ITT also said it plans to repurchase up to $500 million in shares, utilizing a remaining buyback authorization from 2023. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 10, 2025 07:28 ET (11:28 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.33.2","shortVersion":"4.33.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2526055718"}