ITT Corporation (ITT) Thursday reported higher profit for the first quarter, reflecting a revenue growth for the period. Adjusted earnings per share were higher than the Street estimates. The company further maintained its full-year outlook.
For the quarter the company reported net income attributable to ITT of $20.8 million, up from $3.2 million last year. On a per share basis earnings totaled $0.22 versus $0.03 a year earlier.
On an adjusted basis the company posted earnings per share from continuing operations of $0.47 for the quarter. Six analysts on average polled by Thomson Reuters estimated earnings per share of $0.43 for the period. Analyst estimates typically exclude one-time items.
The company clocked a revenue of $608.2 million, up from $568.1 million last year. Analysts were looking for higher revenue of $611.52 million for the quarter.
Looking forward, the firm said it still sees adjusted earnings in the range of $1.80 to $1.90 per share for the full-year. Currently the Street is looking for earnings per share of $1.90 for the same.
The firm further continues to expect revenue to grow 9 to 11 percent for the full-year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.