Shares of ITT Inc. surged 7.8% at the market open on Thursday after the industrial equipment maker reported second-quarter earnings and revenue that exceeded analyst estimates and lifted its full-year profit outlook.
The company posted adjusted earnings per share of $2.08, beating the consensus estimate of $1.95. Revenue rose 51% year-over-year to $1.47 billion, also above forecasts. ITT raised its full-year 2026 adjusted EPS guidance to a range of $8.12 to $8.32, well ahead of the FactSet estimate of $7.80, and forecast organic revenue growth of 5% to 8%.
Management attributed the strong results to the first full quarter contribution from the SPX FLOW acquisition, robust performance across connectors, pump projects, friction products, and defense programs, as well as productivity and pricing actions.