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ITT Forecasts 7 to 12% EPS Growth in 2011; Projects Significant Margin Expansion

Monday, December 20, 2010  
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ITT Corporation announced its full-year 2011 earnings forecast in the range of $4.62 to $4.82 per share, representing approximately 7 to 12 percent growth compared with its 2010 adjusted earnings per share guidance midpoint of $4.30. The company expects 2011 total revenue growth will be 3 to 5 percent compared with 2010 total revenue, which is forecast at approximately $11 billion.

In the Fluid Technology segment, ITT expects total revenue growth of approximately 12 percent and organic revenue growth of approximately 5 percent, driven largely by emerging markets, late-cycle industrial market recovery and stability in developed municipal markets. The company expects a 22 percent increase in operating income for the segment; and its commercial excellence initiative, along with benefits of prior investments and ongoing productivity are expected to drive a solid 110 basis point increase in operating profit margin to 14 percent. More…

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