ITT Corporation Q2 Profit Increases, beats estimates

(RTTNews) - ITT Corporation (ITT) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $108.2 million, or $1.31 per share. This compares with $74.6 million, or $0.89 per share, in last year's second quarter.

Excluding items, ITT Corporation reported adjusted earnings of $109.8 million or $1.33 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.7% to $833.9 million from $733.3 million last year.

ITT Corporation earnings at a glance (GAAP) :

-Earnings (Q2): $108.2 Mln. vs. $74.6 Mln. last year. -EPS (Q2): $1.31 vs. $0.89 last year. -Analyst Estimate: $1.18 -Revenue (Q2): $833.9 Mln vs. $733.3 Mln last year.

-Guidance: Full year EPS guidance: $4.95 to $5.15