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.

Revenue details
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 details
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.

Margin details
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.

Looking ahead
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.

Investor sentiment
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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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.