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Compared to Estimates, ITT (ITT) Q3 Earnings: A Look at Key Metrics
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ITT (ITT - Free Report) reported $822.1 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 9.1%. EPS of $1.37 for the same period compares to $1.20 a year ago.
The reported revenue represents a surprise of +1.51% over the Zacks Consensus Estimate of $809.87 million. With the consensus EPS estimate being $1.27, the EPS surprise was +7.87%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ITT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Motion Technologies: $359.50 million compared to the $363.43 million average estimate based on four analysts. The reported number represents a change of +5.1% year over year.
Revenues- Intersegment eliminations: -$1.20 million versus the four-analyst average estimate of -$0.70 million. The reported number represents a year-over-year change of +300%.
Revenues- Connect & Control Technologies: $184 million versus $170.14 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.8% change.
Revenues- Industrial Process: $279.80 million versus $277.78 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.6% change.
Operating income (Non gaap)- Corporate costs and Other: -$14.20 million versus -$12.46 million estimated by four analysts on average.
Operating income (Non gaap)- Connect & Control Technologies: $33.50 million versus $29.95 million estimated by four analysts on average.
Operating income (Non gaap)- Motion Technologies: $61 million compared to the $58.39 million average estimate based on four analysts.
Operating income (Non gaap)- Industrial Process: $65.20 million compared to the $60.47 million average estimate based on four analysts.
Shares of ITT have returned -2.5% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, ITT (ITT) Q3 Earnings: A Look at Key Metrics
ITT (ITT - Free Report) reported $822.1 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 9.1%. EPS of $1.37 for the same period compares to $1.20 a year ago.
The reported revenue represents a surprise of +1.51% over the Zacks Consensus Estimate of $809.87 million. With the consensus EPS estimate being $1.27, the EPS surprise was +7.87%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ITT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Motion Technologies: $359.50 million compared to the $363.43 million average estimate based on four analysts. The reported number represents a change of +5.1% year over year.
- Revenues- Intersegment eliminations: -$1.20 million versus the four-analyst average estimate of -$0.70 million. The reported number represents a year-over-year change of +300%.
- Revenues- Connect & Control Technologies: $184 million versus $170.14 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.8% change.
- Revenues- Industrial Process: $279.80 million versus $277.78 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +12.6% change.
- Operating income (Non gaap)- Corporate costs and Other: -$14.20 million versus -$12.46 million estimated by four analysts on average.
- Operating income (Non gaap)- Connect & Control Technologies: $33.50 million versus $29.95 million estimated by four analysts on average.
- Operating income (Non gaap)- Motion Technologies: $61 million compared to the $58.39 million average estimate based on four analysts.
- Operating income (Non gaap)- Industrial Process: $65.20 million compared to the $60.47 million average estimate based on four analysts.
View all Key Company Metrics for ITT here>>>Shares of ITT have returned -2.5% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.