ITT Guides FY23 Adj. EPS Just Below Estimates; Hikes Dividend 10% - Update

RTTNews | 735 days ago
Stocktwits
ITT Guides FY23 Adj. EPS Just Below Estimates; Hikes Dividend 10% - Update

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, ITT Inc. (ITT) initiated its adjusted earnings and revenue growth guidance for the full-year 2023. It also increased quarterly dividend by 10 percent.

For fiscal 2023, the company now projects earnings in a range of $4.38 to $4.78 per share and adjusted earnings in a range of $4.55 to $4.95 per share on revenue growth of 7 to 9 percent, with organic revenue growth of 6 to 8 percent.

On average, 13 analysts polled by Thomson Reuters expect the company to report earnings of $4.96 per share on revenue growth of 4.9 percent to $3.13 billion for the year. Analysts' estimates typically exclude special items.

Additionally, the company announced a 10 percent higher quarterly cash dividend of $0.29 per share on the company's outstanding common stock for the first quarter, payable on April 3, 2023, to shareholders of record as of the close of business on March 9, 2023.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: ITT
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ITT Provides Long-term Financial Targets

ITT Provides Long-term Financial Targets

Ahead of its investor conference later on Thursday, ITT Inc. (ITT) announced long-term financial targets, which comprise 5 to 7 percent revenue growth, 20 percent adjusted segment operating margin, over 10 percent adjusted earnings per share growth, and a free cash flow margin range of 11 percent to 13 percent, all based on actual results for the year-ending December 31, 2021.
RTTNews | 973 days ago
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the Asian session on Thursday.
RTTNews | 5h 42min ago
European Shares Seen Higher On Russia-Ukraine Peace Hopes

European Shares Seen Higher On Russia-Ukraine Peace Hopes

European stocks are likely to open higher on Thursday after U.S. President Donald Trump and Russian President Vladimir Putin have agreed to start talks to end the Ukraine War in a significant step towards resolving the conflict.
RTTNews | 6h 19min ago
European Economic News Preview: UK GDP Data Due

European Economic News Preview: UK GDP Data Due

Quarterly national accounts and foreign trade from the UK and final inflation from Germany are the top economic news due on Thursday. At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial production and trade deficit. The economy is forecast to shrink 0.1 percent sequentially in the fourth quarter after remaining flat in the third quarter.
RTTNews | 6h 52min ago
Sensex, Nifty Open Higher On RBI Rate Cut Bets

Sensex, Nifty Open Higher On RBI Rate Cut Bets

Indian shares opened on a firm note Thursday as signs of a slowing economy towards the end of 2024 and falling retail inflation reinforced the views that the Reserve Bank of India (RBI) will continue to loosen its monetary policy in coming months.
RTTNews | 7h 9min ago
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Thursday, following the mixed cues from Wall Street overnight, as data showing a bigger than expected increase in U.S. consumer price inflation raised speculation the US Fed will leave interest rates on hold for a prolonged period. Traders also remain cautious amid raising fears of a brewing global trade war and its impact on inflation.
RTTNews | 8h 16min ago
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming early gains in mid-market moves on Thursday, but extends the gains in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,550 level, with gains in mining and financial stocks partially offset by weakness in energy and technology stocks.
RTTNews | 9h 6min ago
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