ITT Inc. Raises EPS, Organic Revenue Guidance Mid-points - Quick Facts

(RTTNews) - ITT Inc. (ITT) raised the mid-point of its 2018 adjusted EPS guidance by 4 cents to $3.14, which represents a 21 percent increase compared to the prior year. The company said its updated adjusted EPS guidance range of $3.13 to $3.15 reflects volume, price, and mix benefits as well as additional net operating productivity, partially offset by unfavorable foreign currency, material costs, and higher incentive compensation costs.

The company narrowed the range of its 2018 total revenue guidance to a new range of up 6 percent to up 7 percent reflecting stronger share gains offset by increased foreign exchange pressures and raised the mid-point of its organic revenue guidance to a new range of up 4 percent to up 5 percent primarily due to share gains and strong year-to-date order growth.

For the third-quarter, adjusted EPS was up 24% to $0.82. Revenue rose 6% to $681 million. Organic revenue was up 7%, for the quarter.