ITT Inc. Reports 32.7% Revenue Growth to $1.21 Billion in Q1 2026

ITT Inc. reported significant financial results for the first quarter of 2026, with total revenue reaching $1,211.9 million, a 32.7% increase from $913.0 million in the same period last year. This growth was bolstered by $151.4 million from the acquisition of SPX FLOW and $47.8 million from favorable foreign currency translation. However, net income attributable to ITT Inc. decreased by 28% to $78.0 million, or $0.89 per diluted share, down from $108.4 million, or $1.33 per diluted share, in the prior year. The decline in profitability was primarily attributed to acquisition-related costs of $67.5 million and increased intangible amortization expenses of $12.7 million.

The company experienced notable changes in its operational metrics compared to the previous fiscal period. Operating income fell to $141.2 million, a decrease of 6.4% from $150.9 million in Q1 2025. The operating margin also contracted by 480 basis points to 11.7%. Despite these challenges, adjusted operating income increased by 41.7% to $245.6 million, driven by volume leverage and productivity improvements, indicating a strong operational performance across its segments.

Strategically, ITT completed the acquisition of SPX FLOW on March 2, 2026, for a total consideration of $4,309.9 million, which has been integrated into the Flow Technologies segment. This acquisition is expected to enhance ITT's capabilities in the industrial, chemical, and energy markets. The company reported that SPX FLOW generated revenue of $149.3 million since the acquisition date, contributing positively to ITT's overall performance. The acquisition also resulted in a significant increase in goodwill, which rose to $3,787.9 million as of April 4, 2026.

Operationally, ITT's customer engagement metrics showed positive trends, with organic revenue growth of 10.9% driven by strong demand in pump projects and valves within the Flow Technologies segment, as well as growth in aerospace and defense markets in the Connect & Control Technologies segment. The company reported a total of 89.4 million shares outstanding, reflecting an increase in share count due to the equity issued for the SPX FLOW acquisition. The company also maintained a robust cash position, with cash and cash equivalents totaling $600.8 million as of the end of the quarter.

Looking ahead, ITT anticipates continued demand across its markets, although it remains cautious about potential impacts from geopolitical tensions, inflation, and supply chain disruptions. The company plans to leverage its diversified portfolio and operational efficiencies to navigate these challenges while focusing on strategic investments and innovation to drive future growth.