- ITT reported another beat-and-raise quarter, and one that displayed impressive operating leverage despite significant cost headwinds.
- Industrial Process results look a little lackluster, but that's likely due to its end-market exposure that is skewed heavier toward oil/gas and chemicals.
- Motion Technologies is doing great, beating underlying production growth in autos on share gains, winning new EV orders, and leveraging improving rail demand.
- Control & Connect has been weighed down by weakness in aerospace, but demand has bottomed and orders are improving.
- ITT is a well-run business with growth opportunities in each segment, including M&A, but the valuation makes it hard to argue for as a compelling short-term buy.
For further details see:
ITT Inc. Delivers Impressive Margin Leverage, But The Market Wants More