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Compared to Estimates, ITT (ITT) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, ITT (ITT - Free Report) reported revenue of $910.6 million, up 14.1% over the same period last year. EPS came in at $1.42, compared to $1.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $873.58 million, representing a surprise of +4.24%. The company delivered an EPS surprise of +4.41%, with the consensus EPS estimate being $1.36.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ITT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Motion Technologies: $392.40 million versus $383.40 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.6% change.
Revenues- Intersegment eliminations: -$0.80 million versus -$1.29 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -20% change.
Revenues- Connect & Control Technologies: $185.10 million compared to the $180.77 million average estimate based on three analysts. The reported number represents a change of +10.4% year over year.
Revenues- Industrial Process: $333.90 million compared to the $310.40 million average estimate based on three analysts. The reported number represents a change of +25.3% year over year.
Operating income (Non gaap)- Corporate costs and Other: -$17.90 million versus -$14.80 million estimated by three analysts on average.
Operating income (Non gaap)- Connect & Control Technologies: $33.60 million versus the three-analyst average estimate of $32.52 million.
Operating income (Non gaap)- Motion Technologies: $71.30 million versus $65.66 million estimated by three analysts on average.
Operating income (Non gaap)- Industrial Process: $68 million compared to the $65.19 million average estimate based on three analysts.
Shares of ITT have returned -2.2% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, ITT (ITT) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, ITT (ITT - Free Report) reported revenue of $910.6 million, up 14.1% over the same period last year. EPS came in at $1.42, compared to $1.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $873.58 million, representing a surprise of +4.24%. The company delivered an EPS surprise of +4.41%, with the consensus EPS estimate being $1.36.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ITT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Motion Technologies: $392.40 million versus $383.40 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.6% change.
- Revenues- Intersegment eliminations: -$0.80 million versus -$1.29 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -20% change.
- Revenues- Connect & Control Technologies: $185.10 million compared to the $180.77 million average estimate based on three analysts. The reported number represents a change of +10.4% year over year.
- Revenues- Industrial Process: $333.90 million compared to the $310.40 million average estimate based on three analysts. The reported number represents a change of +25.3% year over year.
- Operating income (Non gaap)- Corporate costs and Other: -$17.90 million versus -$14.80 million estimated by three analysts on average.
- Operating income (Non gaap)- Connect & Control Technologies: $33.60 million versus the three-analyst average estimate of $32.52 million.
- Operating income (Non gaap)- Motion Technologies: $71.30 million versus $65.66 million estimated by three analysts on average.
- Operating income (Non gaap)- Industrial Process: $68 million compared to the $65.19 million average estimate based on three analysts.
View all Key Company Metrics for ITT here>>>Shares of ITT have returned -2.2% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.