ITT Corporation Q2 adjusted earnings Beat Estimates

(RTTNews) - ITT Corporation (ITT) revealed earnings for second quarter that fell from the same period last year.

The company's earnings came in at $48.0 million, or $0.55 per share. This compares with $66.8 million, or $0.75 per share, in last year's second quarter.

Excluding items, ITT Corporation reported adjusted earnings of $49.7 million or $0.57 per share for the period.

Analysts had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 28.5% to $514.7 million from $719.9 million last year.

ITT Corporation earnings at a glance:

-Earnings (Q2): $49.7 Mln. vs. $82.7 Mln. last year. -EPS (Q2): $0.57 vs. $0.93 last year. -Analysts Estimate: $0.38 -Revenue (Q2): $514.7 Mln vs. $719.9 Mln last year.