ITT (NYSE: ITT ) reported earnings on Feb. 27. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), ITT beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share increased. GAAP earnings per share expanded.
Gross margins grew, operating margins dropped, net margins contracted.
ITT logged revenue of $554.3 million. The six analysts polled by S&P Capital IQ predicted revenue of $538.7 million on the same basis. GAAP reported sales were 108% lower than the prior-year quarter's -$6.65 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.37. The eight earnings estimates compiled by S&P Capital IQ forecast $0.38 per share. Non-GAAP EPS of $0.37 for Q4 were 2.8% higher than the prior-year quarter's $0.36 per share. (The prior-year quarter included $4.76 per share in earnings from discontinued operations.) GAAP EPS were $0.35 for Q4 versus -$5.38 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 31.3%, 380 basis points better than the prior-year quarter. Operating margin was 8.3%, 270 basis points worse than the prior-year quarter. Net margin was 5.8%, 170 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $608.7 million. On the bottom line, the average EPS estimate is $0.45.
Next year's average estimate for revenue is $2.42 billion. The average EPS estimate is $1.89.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 332 members out of 356 rating the stock outperform, and 24 members rating it underperform. Among 102 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 96 give ITT a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ITT is hold, with an average price target of $24.06.
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