Yahoo Finance ITT Second Quarter 2024 Earnings: Revenues Disappoint
ITT (NYSE:ITT) Second Quarter 2024 Results
Key Financial Results
Revenue: US$905.9m (up 8.6% from 2Q 2023).
Net income: US$119.2m (up 10% from 2Q 2023).
Profit margin: 13% (in line with 2Q 2023).
EPS: US$1.45 (up from US$1.31 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
ITT Revenues Disappoint
Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Machinery industry in the US.
Performance of the American Machinery industry.
The company's shares are down 7.8% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on ITT's balance sheet.
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