ITT Inc. Q4 Profit Drops, Inline With Estimates

(RTTNews) - ITT Inc. (ITT) reported a profit for fourth quarter that decreased from the same period last year in line with the Street estimates.

The company's bottom line came in at $91.5 million, or $1.11 per share. This compares with $115.2 million, or $1.39 per share, in last year's fourth quarter.

Excluding items, ITT Inc. reported adjusted earnings of $110.9 million or $1.34 per share for the period.

Analysts on average had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.0% to $829.1 million from $774.6 million last year.

ITT Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $91.5 Mln. vs. $115.2 Mln. last year. -EPS (Q4): $1.11 vs. $1.39 last year. -Analyst Estimates: $1.34 -Revenue (Q4): $829.1 Mln vs. $774.6 Mln last year.