UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from_____ to _____ Commission File No. 001-05672 ITT INC. Incorporated in the State of Indiana 81-1197930 (State or Other Jurisdiction of Incorporation or Organization) ...

ITT Inc. (NYSE:ITT) Q4 2023 Earnings Conference Call February 8, 2024 8:30 AM ET Company Participants Mark Macaluso - Vice President, Investor Relations and Global Communications Luca Savi - Chief Executive Officer and President Emmanuel Caprais - Chief Financial Officer Conference Call Participants Damian Karas - UBS Nathan Jones - Stifel Jeff Hammond - KeyBanc Capital Markets Scott Davis - Melius Research Michael Halloran - Baird Joe Ritchie - Goldman Sachs Joe Giordano - TD Cowen Matt Summerville - D.A. ...

22 Reconciliation of GAAP vs Adjusted EPS Guidance - Full Year 2024 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------|-------|---------------------|-------|---------------------|-------|---------------------|-------|---------------------|-------|------------------------------------|-------|----------------| | Net Cash - Operating Activities Less: Capital expenditures 39.1 30.2 107. ...

ITT Inc. (NYSE:ITT) Q3 2023 Results Conference Call November 2, 2023 8:30 AM ET Company Participants Mark Macaluso - VP, IR & Global Communications Luca Savi - CEO, President & Director Emmanuel Caprais - SVP & CFO Conference Call Participants Michael Halloran - Baird Damian Karas - UBS Sabrina Abrams - Bank of America Vlad Bystricky - Citigroup Joe Ritchie - Goldman Sachs Bryan Blair - Oppenheimer Nathan Jones - Stifel Operator Welcome to ITT's 2023 Third Quarter Conference Call. Today is Thursday, Novembe ...

Financial Performance - Net income for Q3 2023 was $111.8 million, an increase of 8.3% compared to $103.2 million in Q3 2022[19] - Comprehensive income attributable to ITT Inc. for Q3 2023 was $81.2 million, up from $69.2 million in the same quarter last year, reflecting a growth of 17.9%[19] - For the nine months ended September 30, 2023, net income reached $321.4 million, a significant increase of 26.9% from $253.3 million in the prior year[19] - Total comprehensive income for the nine months ended September 30, 2023, was $286.9 million, compared to $137.1 million for the same period in 2022, indicating a substantial increase of 109.5%[19] - For Q3 2023, ITT Inc. reported total revenue of $822.1 million, a 9.1% increase from $753.6 million in Q3 2022[43] - For the nine months ended September 30, 2023, total revenue was $2,453.9 million, a 10.9% increase from $2,213.1 million in the same period of 2022[43] - The nine-month operating income was $409.4 million, up 29.1% from $317.1 million in the prior year, with an operating margin of 16.7% compared to 14.3%[43] Segment Performance - Motion Technologies segment revenue increased to $359.5 million in Q3 2023 from $342.2 million in Q3 2022, with an operating income of $59.4 million and an operating margin of 16.5%[43] - Industrial Process segment revenue rose to $279.8 million in Q3 2023 from $248.5 million in Q3 2022, with operating income increasing to $64.7 million and an operating margin of 23.1%[43] - Connect & Control Technologies segment revenue grew to $184.0 million in Q3 2023 from $163.2 million in Q3 2022, with operating income of $33.2 million and an operating margin of 18.0%[43] Assets and Liabilities - As of September 30, 2023, total assets increased to $3,802.3 million from $3,780.3 million as of December 31, 2022, reflecting a growth of 0.6%[21] - Total current liabilities decreased to $1,044.0 million from $1,185.5 million, a reduction of 11.9%[21] - The total shareholders' equity as of September 30, 2023, was $2,419.2 million, up from $2,257.4 million at the end of 2022, indicating a growth of 7.2%[21] - The total debt and finance leases decreased to $251.9 million as of September 30, 2023, from $458.7 million as of December 31, 2022, a significant reduction of about 45%[81] - Commercial paper outstanding decreased to $242.7 million as of September 30, 2023, from $448.3 million as of December 31, 2022, a decline of approximately 46%[83] Cash Flow and Investments - Net cash provided by operating activities for the nine months ended September 30, 2023, was $367.6 million, significantly higher than $115.2 million in the prior year[23] - The company reported a net cash outflow from investing activities of $142.0 million for the nine months ended September 30, 2023, compared to an outflow of $244.8 million in the same period of 2022[23] - Capital expenditures for the nine months ended September 30, 2023, were $68.5 million, slightly lower than $73.7 million in the same period of 2022[23] Shareholder Returns - Dividends paid increased to $71.9 million in 2023 from $66.1 million in 2022, reflecting an increase of 11.0%[23] - The company repurchased and retired 0.7 million shares of common stock for $60.5 million during the nine months ended September 30, 2023, compared to 3.0 million shares for $245.3 million in the same period of 2022[93] - An indefinite term $1,000 million open-market share repurchase program was approved on October 4, 2023, to commence after the completion of the existing $500 million program[94] Challenges and Risks - ITT Inc. is facing challenges such as supply chain disruptions and raw material shortages, which could impact future performance[13] - The company is actively managing risks related to foreign currency fluctuations and their potential impact on revenues[13] - The company anticipates continued growth driven by strategic plans and market expansion initiatives, although specific numerical guidance was not provided[10] Tax and Subsidies - The effective tax rate for Q3 2023 was 21.1%, up from 13.7% in Q3 2022, primarily due to prior year benefits from a valuation allowance reversal[51] - The company recognized a benefit of $6.3 million related to energy subsidies for the nine months ended September 30, 2023, which was recorded within Costs of revenue[64] Acquisitions - ITT Inc. completed the acquisition of Micro-Mode Products, Inc. for a purchase price of $79.3 million on May 2, 2023, with results reported in the Connect & Control Technologies segment[29] - The company signed an agreement to acquire Svanehøj Group A/S for approximately $395 million, expected to close in the first quarter of 2024[117] Employee Compensation - Total share-based compensation expense for the three months ended September 30, 2023, was $5.4 million, an increase from $5.0 million in the same period of 2022[91] - The company had no open-market share repurchases during Q3 2023, contrasting with repurchases of 0.1 million shares for $4.4 million in Q3 2022[93]

Organic revenue growth +12% Q2 SUMMARY RESULTS Share Count, Interest, Tax Rate - FX hedge benefit in prior year Adjusted segment operating margin Operational margins subtotal 19.9% KEY PERFORMANCE INDICATORS & NON-GAAP MEASURES Special items include, but are not limited to, restructuring costs, acquisition-related expenses, and other unusual or infrequent items. 16 #A Represents expected revenue growth of 8%, reflecting the mid-point of the 7% to 9% range. 4 (+50 bps) Headwinds Price / Cost FX Strategic Ini ...

Emmanuel Caprais And then if you look at our rail platform, KONI and Axtone, we see many opportunities, both from a pricing standpoint and also a productivity standpoint. So here in pricing, we have just scratched the surface, but there's still much more to go after. And because this is the longer cycle business, we're not seeing all the impacts of pricing yet in our P&L. So we're going to continue to drive this. And with further margin expansion from KONI, Axtone as well as from Friction, we expect really ...

Jeff Hammond And on CCT? Our next question comes from Scott Davis from Melius Research. Presentation is really pretty clear. So I wanted to take a step back a little bit and talk a little bit about this antiflaring technology. What is it that you guys are doing different? And maybe just help us understand what that really means. I would imagine there's a lot of those types of projects out there, if your technology is perhaps differentiated or interesting or whatever, but I'll let you guys address that. Luca ...

2022 Results and 2023 Outlook February 9, 2023 SAFE HARBOR AND NON-GAAP DISCLOSURES Safe Harbor The forward-looking statements included in this presentation speak only as of the date hereof. We undertake no obligation (and expressly disclaim any obligation) to update any forward-looking statements, whether written or oral, as a result of new information, future events or otherwise. • CCT growth in connectors (+13%) and aerospace components (+26%) REVENUE + Shop floor productivity and cost controls FREE CASH ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from_____ to _____ Commission File No. 001-05672 ITT INC. Incorporated in the State of Indiana 81-1197930 (State or Other Jurisdiction of Incorporation or Organization) ...