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ITT Inc (ITT.N)

ITT.N on New York Stock Exchange

41.25USD
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

ITT announces agreement to acquire Axtone
Friday, 4 Nov 2016 06:45am EDT 

Itt Inc : ITT announces agreement to acquire Axtone . Deal for approximately $118 million . Transaction represents a cash consideration of approximately $118 million . Deal will be primarily funded from company's foreign cash (assumes $1.09 USD per EUR1 euro) .Transaction is expected to be accretive to itt earnings in first full year after closing.  Full Article

ITT reports Q3 GAAP earnings per share $0.98
Friday, 4 Nov 2016 06:45am EDT 

ITT Inc : ITT reports 2016 third-quarter results . Q3 adjusted earnings per share $0.58 . Q3 GAAP earnings per share $0.98 . Q3 earnings per share view $0.58 -- Thomson Reuters I/B/E/S . Says adjusts 2016 full-year guidance . Says recognized an $82 million pre-tax benefit in q3 . Says GAAP revenue is now expected to be down 5 percent to 6 percent in 2016 . Says has initiated a program offering certain former u.s. Employees with a vested pension benefit . Sees 2016 GAAP EPS guidance range to be $1.96 to $2.15 and adjusted EPS guidance range to be $2.20 to $2.30 . Says now expects GAAP EPS guidance range to be $1.96 to $2.15 and adjusted EPS guidance range to be $2.20 to $2.30 in 2016 . FY2016 earnings per share view $2.39, revenue view $2.41 billion -- Thomson Reuters I/B/E/S . Expects to recognize a non-cash pretax pension settlement charge of approximately $18-20 million in Q4 of 2016 . 2016 GAAP revenue is now expected to be down 5 percent to 6 percent, and organic revenue is expected to be down 9 to 10 percent .Says organic revenue is expected to be down 9 to 10 percent in 2016.  Full Article

ITT Inc Q2 earnings per share $0.36
Thursday, 4 Aug 2016 06:45am EDT 

ITT Inc : Q2 adjusted earnings per share $0.67 . Q2 GAAP earnings per share $0.36 . Q2 earnings per share view $0.60 -- Thomson Reuters I/B/E/S . Qtrly revenue flat at $626 million . Lowering its previously announced full-year 2016 GAAP and organic revenue guidance . Qtrly organic revenue down 6 percent . Sees FY 2016 revenue down 3 percent to down 5 percent . Announces up to $50 million of incremental share repurchases . Adjusts 2016 full-year guidance . Sees FY GAAP revenue is now expected to be down 3 percent to down 5 percent . Sees FY organic revenue is expected to be down 7 percent to down 9 percent . Sees GAAP EPS guidance range to be $1.40 to $1.62 in 2016 . Q2 revenue view $619.8 million -- Thomson Reuters I/B/E/S .FY2016 earnings per share view $2.45, revenue view $2.47 billion -- Thomson Reuters I/B/E/S.  Full Article

ITT to reduce cost structure of business in response to "weak oil and gas prices"
Friday, 24 Jun 2016 05:02pm EDT 

ITT Inc : Finalized several restructuring actions in company's industrial process business . To reduce overall cost structure of business in response to persistently "weak oil and gas prices" . Expects to incur pre-tax cash costs, principally involuntary severance costs for approximately 270 employees . Expects to incur pre-tax cash costs of approximately $12 million to $13 million relating to restructuring actions . Expects to substantially complete restructuring actions during next 6 months . Benefits from actions expected to yield annual pre-tax cash savings to company of approximately $19 million - sec filing .Benefit and cost estimates were included within company's annual earnings estimates.  Full Article

ITT Corp reaffirms FY 2016 guidance
Thursday, 5 May 2016 06:45am EDT 

ITT Corp:Reaffirms its previously announced Fy 2016 revenue and adjusted EPS guidance.Expects FY 2016 total revenue to be flat to down 4 percent.Expects FY 2016 adjusted EPS to be in the range of $2.42 to $2.68 per share, which is flat at the midpoint and up 2 percent excluding the impact of foreign exchange compared to 2015.  Full Article

ITT Corp raises dividend by 5 pct to 12.4 cents per share
Friday, 12 Feb 2016 06:45am EST 

ITT Corp:Raises dividend by 5 percent to 12.4 cents per share.Dividend for Q1 will be payable on April 1, 2016, to shareholders of record as of the close of business on March 11, 2016.  Full Article

ITT Corp gives FY 2016 guidance
Friday, 12 Feb 2016 06:45am EST 

ITT Corp:Expects FY 2016 total revenue flat to down 4 percent, and GAAP EPS to be in the range of $1.72 to $2.11.Expects FY 2016 adjusted EPS to be in the range of $2.42 to $2.68 per share, which is flat at the midpoint and up 2 percent excluding impact of foreign exchange compared to 2015.  Full Article

ITT Corp's C'treat Brand Awarded Contract from Shell Offshore Inc
Wednesday, 18 Nov 2015 06:45am EST 

ITT Corp:Says its C'treat brand has been awarded a contract from Shell Offshore Inc. C'treat will supply reverse osmosis watermakers for the Appomattox development located approximately 80 miles from the nearest Louisiana shoreline in the U.S. Gulf of Mexico.Reverse osmosis watermakers will be built at the ITT C'treat facility located in the Woodlands, Texas, and are scheduled to be delivered in the first quarter of 2016.  Full Article

ITT Corp announces plans to acquire Wolverine Advanced Materials
Monday, 31 Aug 2015 09:00am EDT 

ITT Corp:Announces plans to acquire wolverine advanced materials.Says deal valued at about $300 million.Deal will be funded from the company's cash and revolving credit facility.Says deal is expected to be accretive to ITT earnings in the first full year after closing.  Full Article

ITT declares third-quarter dividend of 11.83 cents per share
Wednesday, 12 Aug 2015 04:00pm EDT 

ITT Corp:Declares third-quarter cash dividend of 11.83 cents per share on the company's outstanding stock.This cash dividend will be payable Oct. 1, to shareholders of record as of the close of business on Sept. 11.  Full Article

BRIEF-ITT announces agreement to acquire Axtone

* Transaction represents a cash consideration of approximately $118 million