NYSE:ITTMachinery
Is ITT’s Revenue Beat and SPX FLOW Deal Altering The Investment Case For ITT (ITT)?
In its latest quarterly update, ITT reported past revenues of US$1.05 billion, up 13.5% year on year and above analyst expectations, while also closing its acquisition of SPX FLOW and renaming its Industrial Process segment to Flow Technologies under new leadership.
Together, the earnings surprise and SPX FLOW integration mark a significant broadening of ITT’s global flow technologies platform and shift in its business mix beyond purely organic growth.
We’ll now examine how ITT’s revenue...