ITT (NYSE: ITT) is expected to report Q1 earnings on May 2. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict ITT's revenues will increase 5.8% and EPS will grow 10.3%.

The average estimate for revenue is $610.2 million. On the bottom line, the average EPS estimate is $0.43.

Revenue details
 Last quarter, ITT reported revenue of $554.3 million. GAAP reported sales were 8.9% higher than the prior-year quarter's $484.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.37. GAAP EPS were $0.34 for Q4 versus -$5.69 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 31.2%, 110 basis points better than the prior-year quarter. Operating margin was 9.3%, 120 basis points worse than the prior-year quarter. Net margin was 6.1%, much better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $2.46 billion. The average EPS estimate is $1.88.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 331 members out of 354 rating the stock outperform, and 23 members rating it underperform. Among 95 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 90 give ITT a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ITT is outperform, with an average price target of $24.06.

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