ITT: 2Q Earnings Snapshot
Aug. 03, 2018
WHITE PLAINS, N.Y. (AP) _ ITT Corp. (ITT) on Friday reported second-quarter earnings of $69.7 million.
On a per-share basis, the White Plains, New York-based company said it had net income of 79 cents. Earnings, adjusted for non-recurring costs, came to 82 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The supplier of parts and services to a wide variety of industries posted revenue of $696.8 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $681.8 million.
ITT expects full-year earnings in the range of $3.05 to $3.15 per share.
ITT shares have increased almost 6 percent since the beginning of the year. The stock has risen 40 percent in the last 12 months.