ITT Corporation (NYSE:ITT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.90%.
ITT Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 2% to $0.51 in the quarter versus EPS of $0.50 in the year-earlier quarter.
Revenue: Rose 7.35% to $609.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ITT Corporation reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.45. It beat the average revenue estimate of $600.04 million.
Quoting Management: “ITT has consistently executed our strategies to drive profitable growth and value creation, and the first half of 2013 was no exception,” said Denise Ramos, chief executive officer and president. “In both quarters, we continued to drive market expansion with strong growth in emerging markets, winning share in a tough Western European environment and enhancing our presence in key global end markets such as energy and automotive.”
Key Stats (on next page)…
Revenue increased 0.16% from $608.2 million in the previous quarter. EPS increased 8.51% from $0.47 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.49 and has not changed. For the current year, the average estimate has moved down from a profit of $1.9 to a profit of $1.89 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)