Record Orders Achieved
ITT reported more than $1 billion in orders, the highest for any quarter in its history, supported by the kSARIA and Svanehøj acquisitions.
Strong Backlog Growth
The company achieved a book-to-bill ratio of 1.15, resulting in a backlog of $1.8 billion, up 21% year-over-year and 10% sequentially.
Margin Expansion
ITT expanded its margin by 30 basis points to 17.4%, driven by operational leverage, productivity, and price increases.
Free Cash Flow and Share Repurchase
ITT generated record Q1 free cash flow of $77 million, up more than 150%, and repurchased $100 million of shares in Q1, plus an additional $300 million in April.
Industrial Process and Connect & Control Growth
Industrial Process grew orders by 14% (11% organic), and Connect & Control grew nearly 40%, driven by large platform awards.
VIDAR Innovation
ITT launched VIDAR, a revolutionary motor technology targeting a $6 billion market, promising significant energy savings and emission reductions.