ITT INC Reports 13.7% Revenue Increase and 45.0% Net Income Increase for Q2 FY2023
August 11, 2023
☀️Earnings Overview
ITT INC ($NYSE:ITT) reported total revenue of USD 833.9 million for the quarter ended June 30, 2023, an increase of 13.7% compared to the same period last year. The company also reported net income of USD 108.2 million, a year-over-year increase of 45.0%. These figures are part of ITT INC’s earnings report for FY2023.
Analysis
GoodWhale has conducted an analysis of ITT INC‘s financials in order to evaluate its performance. According to the Star Chart, ITT INC is strong in dividend and profitability, but medium in asset and growth. Furthermore, its health score is 8 out of 10, which shows that it has the ability to pay off debt and fund future operations. Additionally, ITT INC is classified as a ‘gorilla’, meaning it has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given its strong financial standing, ITT INC may be of particular interest to value investors, who are looking for a company with a low risk profile and reasonable returns. Long-term investors may also benefit from this company due to its ability to consistently generate revenue or earnings and maintain high dividend or profitability. Overall, ITT INC is an attractive option for investors looking for a company with a strong competitive advantage, capable of providing stable returns over the long-term. 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 in ITT INC saw positive growth in the second quarter of 2023, as the company’s total revenue increased by 13.7%, and net income increased by 45.0%. This translated to an increase in stock prices, providing investors with a good return on their investment. With strong financial performance seen over the past quarter, analysts are optimistic about the company’s outlook in the coming months and years. It is expected that investors will continue to see positive returns on their investments in ITT INC, making it a good option for those looking to grow their portfolio.
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