Strong Revenue Growth
ITT delivered nearly $1 billion of total orders for the third consecutive quarter, marking a 3% increase. Revenue grew 13% in total and 6% organically, with all segments contributing to $999 million.
Significant Margin Expansion
Operating margin expanded over 100 basis points excluding M&A. CCT margin expanded 270 basis points, IP grew margins 70 basis points to nearly 22%, and MT grew margin to 110 basis points.
Robust Free Cash Flow
Free cash flow grew 46% to $368 million year-to-date, with a free cash flow margin over 15%, surpassing the high end of the 2030 target.
Increased EPS Outlook
Adjusted EPS grew 21%. ITT raised its full-year adjusted EPS outlook, with the revised low end now above the previous high end, representing a 13% growth versus the prior year.
Successful Acquisitions
Strong order intake from kSARIA and Svanehøj acquisitions. Svanehøj orders grew 59% year-to-date, while kSARIA grew orders 58% with a book-to-bill of 1.2.
Strong Market Share Gains
Market share in China grew from 31% last year to above 34%. Friction OE outperformed global auto production by 360 basis points, growing 4%.