ITT (NYSE:ITT) reported on Friday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
ITT announced earnings per share of $0.8 on revenue of $663.3M (NYSE:MMM). Analysts polled by anticipated EPS of $0.77 on revenue of $636.24M. That with comparison to EPS of $0.91 on revenue of $695.5M in the same period a year before. ITT had reported EPS of $0.99 on revenue of $719.1M in the previous quarter. Analysts are expecting EPS of $0.64 and revenue of $587.88M in the upcoming quarter.
ITT shares are up 2% from the beginning of the year , still down 30.23% from its 52 week high of $75.56 set on January 2. They are outperforming the S&P Global (NYSE:SPGI) 100 which is down 8.56% year to date.
ITT follows other major Capital Goods sector earnings this month
ITT's report follows an earnings missed by ASML ADR on April 15, who reported EPS of $0.93 on revenue of $2.44B, compared to forecasts EPS of $1.47 on revenue of $3.17B.
Lockheed Martin had beat expectations on April 21 with first quarter EPS of $6.08 on revenue of $15.65B, compared to forecast for EPS of $5.81 on revenue of $15.08B.
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