ITT Inc. Raises 2021 Guidance - Quick Facts

(RTTNews) - ITT Inc. (ITT) said it now expects 2021 adjusted earnings per share to grow 19 to 25 percent above prior year, a $0.30 increase to previous midpoint. The company now expects revenue growth of 8% to 10%, or up 5% to 7% on an organic basis; earnings per share of $3.65 to $3.91, and adjusted earnings per share of $3.80 to $4.00 per share.

First quarter adjusted earnings per share increased to $1.06 from $0.80, prior year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87, for the quarter. Analysts' estimates typically exclude special items.

First quarter income from continuing operations increased to $86.5 million from $84.0 million, prior year. Earnings per share from continuing operations was $0.99 compared to $0.95.

First quarter revenue was $698.4 million, up 5.3%. Organic growth was 1.5%, for the quarter. Analysts expected revenue of $659.34 million, for the quarter.