ITT Corporation Q3 Profit Increases, beats estimates

(RTTNews) - ITT Corporation (ITT) released earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $102.4M, or $1.23 per share. This compares with $87.5 million, or $1.01 per share, in last year's third quarter.

Excluding items, ITT Corporation reported adjusted earnings of $99.6 million or $1.20 per share for the period.

Analysts on average had expected the company to earn $1.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.3% to $753.6 million from $689.6 million last year.

ITT Corporation earnings at a glance (GAAP) :

-Earnings (Q3): $102.4M. vs. $87.5 Mln. last year. -EPS (Q3): $1.23 vs. $1.01 last year. -Analyst Estimate: $1.17 -Revenue (Q3): $753.6 Mln vs. $689.6 Mln last year.

-Guidance: Full year EPS guidance: $4.35 to $4.45