ITT Inc. to Release 2024 Fourth Quarter and Full Year Results and 2025 Outlook on Thursday, Feb. 6

ITT Inc. (NYSE: ITT), a diversified leading manufacturer of highly engineered critical components and customized technology solutions, has announced that it will release its fourth quarter and full year 2024 financial results and its 2025 outlook before the opening of the New York Stock Exchange on Thursday, Feb. 6, 2025. The company will hold a conference call on the same day at 8:30 a.m. Eastern Time to discuss its 2024 results and 2025 outlook.

Participants can register online to receive dial-in information and a unique PIN, and are advised to join ten minutes before the call starts. A real-time audio webcast of the presentation will also be available on the company's investor relations website, where related materials will be posted before the presentation. A replay will be accessible two hours after the call.

ITT is a global company with employees in over 35 countries and sales in approximately 125 countries. It operates in three primary segments: Motion Technologies, Connect & Control Technologies, and Industrial Process. These segments contribute significantly to ITT's overall performance and growth.



In the fourth quarter of 2023, ITT reported a year-over-year revenue increase of 7%, up 4% on an organic basis, driven by higher Friction original equipment (OE) volumes in Motion Technologies and pricing actions in Connect & Control Technologies and Industrial Process. The company's operating margin of 14.3% decreased 520 basis points versus prior year primarily due to a one-time loss of $15 million on the sale of the Matrix Composites business in CCT, a prior year non-recurring gain of $16 million on the sale of IP facilities, higher restructuring and corporate charges, and cost inflation. On an adjusted basis, operating income of $141 million increased 4% primarily due to higher volumes, pricing actions, and productivity.

Earnings per share for the fourth quarter of $1.12 decreased 19% versus prior year primarily due to the impact of non-recurring items, lower operating income, and higher tax rate, partially offset by lower interest expense. On an adjusted basis, earnings per share of $1.34 increased 4% compared to prior year due to higher operating income including favorable foreign currency impact.

Operating cash flow for the fourth quarter of $170 million increased 5% versus prior year driven by higher operating income and strong accounts receivable collections. Free cash flow for the fourth quarter of $131 million was flat versus prior year. For the full year 2023, ITT generated operating cash flow of $538 million, an increase of $260 million versus 2022, and free cash flow of $430 million, an increase of $257 million versus 2022. Both increases were due to higher net income and improved inventory velocity and receivables collections.



ITT's 2025 outlook highlights several key trends and growth opportunities, including growth in transportation, industrial, and energy markets, innovation and customized solutions, expansion through acquisitions, operational efficiency and cost management, strong cash flow generation, and global expansion. These trends and growth opportunities position ITT well to continue driving growth and maintaining its competitive position in the market.

Investors and stakeholders eagerly await ITT's 2024 fourth quarter and full year results and 2025 outlook, as these updates will provide valuable insights into the company's performance and future prospects. By staying informed about ITT's financial performance and strategic initiatives, investors can make well-informed decisions about their investments in the company.