ITT Forecasts 7 to 12% EPS Growth in 2011; Projects Significant Margin Expansion
Monday, December 20, 2010
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…
|
|
Email to a Friend