The following is a summary of the ITT Inc. (ITT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• ITT Inc. reported Q1 2024 revenue growth of 9% and an adjusted operating margin expansion to 17%.

• The company saw over 20% adjusted EPS growth and a 2% growth in the free-cash flow compared to the previous year.

• Improvement in key areas led to an increase in the 2024 organic revenue guidance to approximately 6% and the operating margin to 17.4%.

• The consistent financial performance has resulted in no debt and reduction in the year-over-year margin by 350 basis points since 2019.

Business Progress:

• ITT Inc's strategic investments in China resulted in significant growth in the Friction OE market.

• The company's Embedded Motor Drive (EMD) product, which promotes energy savings and CO2 emission reductions, is set to commence commercialization in 2025.

• ITT is driving organic growth through orders and aims to add value through enhanced M&A performances.

• The company furthers its growth in Svanehoj and Rail businesses and expects to benefit from government programs in rail operations across key regions.

• ITT Inc has prioritized R&D investments and modernization of their factories, recording a 60 basis-point margin expansion due to productivity in Q1 2024.

• Exceptional performance in China, especially in the auto sector, has been noted with a 100% on-time delivery rate and over 90% efficiency. Moreover, the launch of 50 new programs in Q1 2024 has strengthened its position and customer loyalty.

More details: ITT Inc IR

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