ITT Reports Q2 Earnings Beat

ITT ITT reported second-quarter earnings of 93 cents per share, which beat the analyst consensus estimate of 89 cents by 4.49%. This is a 13.41% increase over earnings of 82 cents per share from the same period last year.

The company reported quarterly sales of $719.9 million, which beat the analyst consensus estimate of $701.9 million by 2.56%. This is a 3.32% increase over sales of $696.8 million the same period last year.

"We delivered another strong quarter, despite an increasingly challenging economic environment," said CEO Luca Savi. "Our diversified and resilient portfolio delivered 5% organic revenue growth, record revenue of over $700 million, and 13% adjusted EPS growth to a record 93 cents per share. Our proactive cost structure actions and other self-help opportunities will help us to continue to combat future market uncertainty."

ITT shares were trading at $60.69 in Friday’s pre-market session. The stock has a 52-week high of $66.88 and a 52-week low of $44.89.

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