ITT Guides FY20 Adj. EPS In Line With Estimates; To Hike Dividend 15%

(RTTNews) - While reporting financial results for the fourth quarter on Friday, ITT Inc. (ITT) initiated its adjusted earnings and revenue change guidance for the full-year 2020. It also plans to increase quarterly dividend by 15 percent.

For fiscal 2020, the company now projects adjusted earnings in a range of $3.90 to $4.10 per share on revenues projected to be between down 2 percent and up 2 percent.

The company said its 2020 operational guidance excludes the potential first-quarter impacts of the novel coronavirus.

Including an estimated impact of novel coronavirus, the company expects 2020 adjusted earnings in a range of $3.72 to $4.02 per share on revenues projected to be between down 3 percent and up 1 percent to reflect the increasing uncertainty from the novel coronavirus.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.99 per share on revenue growth of 2.9 percent to $2.92 billion for the year. Analysts' estimates typically exclude special items.

Further, the company plans to continue to return capital to shareholders in 2020 by increasing its quarterly dividend, for an eighth straight year, by 15 percent to $0.169 per share.