ITT reports Q3 adjusted EPS $1.37, consensus $1.27

Reports Q3 revenue $822.1M, consensus $811.17M. “In Q3, we continued to generate strong growth and execute on all fronts. Our teams drove share gains in automotive and rail, large project growth and aftermarket demand in pumps and valves, and growth in aerospace and defense. Once again, we delivered strong year-over-year and sequential segment margin expansion, and are accelerating towards our 20% long-term target. We also generated more than $350M of cash flow this year, acquired Svanehoj to grow our flow portfolio, and will continue to put our cash to work with further M&A opportunities and the new $1B share repurchase program we announced in October. As a result of this performance, today we are raising our 2023 outlook for the third straight quarter. We continue to execute at a new level of earnings, profitability and cash, whilst reinvesting in our businesses and growing through acquisitions to deliver long-term value,” said CEO Luca Savi.