ITT Raises 2017 Outlook

(RTTNews) - ITT Inc. (ITT) said it raised its previously announced 2017 full-year revenue guidance to the range of flat to up 2 percent primarily due to the positive impacts of foreign exchange. In addition, the company raised the midpoint of its previously announced adjusted EPS guidance by $0.07 to $2.45. The new adjusted EPS range is now $2.40 to $2.50.

The company noted that the updated adjusted EPS guidance reflected solid operational execution, partially offset by incremental commodity headwinds, and benefits from non-operating items, net of incremental investments. The new adjusted EPS midpoint of $2.45 represents a 6 percent increase compared to the prior year, or an 8 percent increase excluding foreign exchange.

Analysts polled by Thomson Reuters expect the company to report earnings of $2.43 per share and revenues of $2.48 billion. Analysts' estimates typically exclude special items.