ITT Lifts Annual Net Income, Revenue Growth Outlook; Declares Quarterly Dividend

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Kaufen / Verkaufen

(RTTNews) - ITT Inc. (ITT), a maker of specialty components for industries, has revised up its annual guidance for net income and revenue growth.

For the full year, the company now expects net income per share of $6.16 to $6.22, higher than the prior guidance of $5.51 to $5.76 per share.

Excluding items, earnings are now projected to be $5.80 to $5.86 per share, compared with the earlier expectation of $5.65 to $5.90 per share. On average, 11 analysts polled by Thomson Reuters forecast the firm to report income per share of $5.83, for the year. Analysts' estimates typically exclude special items.

Revenue growth is now anticipated to be in the range of 10 to 12 percent, higher than the earlier outlook of 9 to 12 percent.

For the fourth quarter, ITT will pay a dividend of $0.319 per share on December 31, to shareholders of record as of November 29.