10-Q · May 6, 2026
ITT Inc. reported strong Q1 2026 results, with revenues of $1.212 billion, up 32.7% year-over-year, driven by acquisitions and strong organic growth across segments. However, despite revenue growth, operating income and…
Earnings analysis · 10-Q
ITT earnings analysis
Filed November 5, 2026 · Our reading of the company's report
The latest report
ITT delivered Q3 revenue of $1.4406 billion, approximately 44.2% above Q3 2025 but 2.0% below Q2 2026, while GAAP EPS of $1.38 trailed adjusted EPS of $2.26. Management raised FY2026 GAAP EPS guidance to $4.65-$4.73 and…
Read full summary
ITT delivered Q3 revenue of $1.4406 billion, approximately 44.2% above Q3 2025 but 2.0% below Q2 2026, while GAAP EPS of $1.38 trailed adjusted EPS of $2.26. Management raised FY2026 GAAP EPS guidance to $4.65-$4.73 and provided an adjusted EPS outlook of $8.54-$8.62, but SPX FLOW integration and incomplete controls integration remain material risks. The newly added Middle East risk also introduces potential inflation, supply-chain and demand headwinds.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.38
What stood out
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Revenue remained sharply above prior year
Q3 revenue was $1.4406 billion, down approximately 2.0% from $1.47 billion in Q2 2026 but up approximately 44.2% from $999 million in Q3 2025.
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Adjusted EPS substantially exceeded GAAP EPS
GAAP EPS was $1.38, while adjusted EPS was $2.26, indicating a substantial effect from acquisition-related and other non-operating adjustments.
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Share repurchases continued
The company repurchased 247,211 shares during August 30-October 3, 2026, at an average price of $202.50 per share; $305 million remained under the repurchase authorization.
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FY2026 EPS outlook was raised
FY2026 GAAP EPS guidance increased to $4.65-$4.73 from the prior $4.15-$4.45 range, while adjusted EPS guidance was $8.54-$8.62.
What to watch
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SPX FLOW controls remain under integration
The company completed the SPX FLOW acquisition on March 2, 2026, but had not yet fully incorporated SPX FLOW's internal controls and procedures into internal control over financial reporting as of the filing. This creates integration and reporting-control execution risk.
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Acquisition-related items pressure GAAP earnings
GAAP EPS was $1.38 versus adjusted EPS of $2.26, showing that acquisition-related and other adjustments materially reduced reported earnings relative to operating performance.
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Middle East conflict adds macro and supply risk
The newly disclosed Middle East risk states that coordinated U.S. and Israeli strikes against Iran began in February 2026. Potential effects include higher energy and input costs, supply-chain disruption, sanctions, transportation interruptions and weaker demand, although ITT has no material operations in the region.
Management's outlook
FY2026 GAAP EPS guidance was raised to $4.65-$4.73 from $4.15-$4.45. The outlook also includes adjusted EPS of $8.54-$8.62, organic revenue growth of 7%-9%, total revenue growth of 41%-43%, and free cash flow of $600-$620 million.
Earlier filings 4
10-Q · October 29, 2025
ITT reported Q3 2025 revenue of $999.1 million, up 12.9% year-over-year, with GAAP diluted income from continuing operations of $1.62 per share and adjusted EPS of $1.78. Revenue strength was broad-based (IP and CCT led…
10-Q · July 31, 2025
ITT reported Q2 2025 revenue of $972.4 million, up $66.5 million (7.3%) year-over-year, with operating income rising to $175.1 million (+9.6%) and GAAP diluted income from continuing operations of $1.52 per share (up…
10-Q · May 1, 2025
ITT reported Q1 2025 revenue of $913.0 million (flat YoY) and GAAP diluted EPS of $1.33 (down $0.02 YoY). Gross margin expanded to 34.6% (up 150 bps YoY) while consolidated operating margin was stable at 16.5%. Cash…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.