ITT INC Reports 13.7% Increase in Revenue for Q2 of FY2023 at USD 833.9 Million
August 25, 2023
☀️Earnings Overview
On June 30, 2023, ITT INC ($NYSE:ITT) reported their Q2 FY2023 earnings results, with total revenue increasing by 13.7% year over year and reaching USD 833.9 million. Moreover, their net income surged 45.0%, amounting to USD 108.2 million.
Analysis
Analyzing the fundamentals of ITT INC through GoodWhale’s risk assessment tool is a great way to determine its investment potential. According to the risk rating, ITT INC is classified as a medium risk investment; meaning it has a good balance of financial and business qualities. However, GoodWhale has detected one risk warning in the balance sheet which could potentially bring down the financial status. For a detailed analysis, investors should register on goodwhale.com and check out the warnings listed there. Understanding the potential risks and rewards of ITT INC’s investments is essential to making an informed decision about whether it’s a good investment or not. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Itt Inc. More…
| Total Revenues | Net Income | Net Margin |
| 3.16k | 425.8 | 13.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Itt Inc. More…
| Operations | Investing | Financing |
| 421.2 | -156.5 | -330.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Itt Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.89k | 1.53k | 28.59 |
Key Ratios Snapshot
Some of the financial key ratios for Itt Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.6% | 8.9% | 16.7% |
| FCF Margin | ROE | ROA |
| 10.1% | 14.2% | 8.5% |
Peers
Its products and services span a wide range of industries including oil and gas, mining, power generation, food and beverage, and aerospace. The company has a long history dating back to 1869, and its brands are known for their quality and reliability. ITT’s main competitors are Flowserve Corp, Sandvik AB, and Graco Inc. These companies are all leaders in their respective industries and have a strong presence in international markets.
– Flowserve Corp ($NYSE:FLS)
Flowserve Corporation is an American multinational company and one of the largest suppliers of industrial and environmental machinery in the world. The company has a market cap of $3.64 billion and a return on equity of 5.76%. The company designs, manufactures, services, and supports flow control products and systems for use in the oil and gas, chemical, power generation, water and wastewater, and other industries.
– Sandvik AB ($LTS:0HC0)
Sandvik AB is a Swedish multinational engineering company that specializes in metal cutting and materials technology. The company has a market cap of 216.95B as of 2022 and a Return on Equity of 16.88%. Sandvik is a world-leading manufacturer of metal-cutting and materials-processing tools, equipment, and services for industrial customers. The company’s products and services are used in a variety of industries, including mining, construction, oil and gas, aerospace, and metalworking.
– Graco Inc ($NYSE:GGG)
Graco Inc is a world leader in fluid handling systems and components for the paint, coating, and other industrial and commercial applications. With a market cap of 11.45B as of 2022, Graco Inc has a Return on Equity of 19.47%. The company designs, manufactures, and markets equipment and systems to move, measure, control, dispense, and apply a variety of fluids and viscous materials used in many different applications.
Summary
Investors have been impressed with ITT Inc‘s recent Q2 FY2023 results, with total revenue increasing by 13.7% year-over-year and net income growing by a considerable 45.0%. The stock price responded positively to the news, indicating a strong investor confidence in the company’s performance. ITT Inc has shown consistent growth quarter-over-quarter, making it an attractive prospect for investors looking to add value to their portfolio. With a diversified product line and well-thought-out strategies, ITT Inc is a sound investment for the long-term.
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