ITT Inc. Q1 Profit Increases, beats estimates

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

The company's bottom line totaled $111.0 million, or $1.34 per share. This compares with $100.0 million, or $1.20 per share, in last year's first quarter.

Excluding items, ITT Inc. reported adjusted earnings of $117.2 million or $1.42 per share for the period.

Analysts on average had expected the company to earn $1.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.1% to $910.6 million from $797.9 million last year.

ITT Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $111.0 Mln. vs. $100.0 Mln. last year. -EPS (Q1): $1.34 vs. $1.20 last year. -Revenue (Q1): $910.6 Mln vs. $797.9 Mln last year.

-Guidance: Full year EPS guidance: $5.65 to $5.90