0000216228-26-000061
SEC filingITT二季度营收创纪录，SPX FLOW并表驱动增长，上调全年指引。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $1,473.1M | $972.4M | +51.5% |
| Organic Growth | 12.7% | — | — |
| Gross Profit | $510.1M | $350.8M | — |
| Operating Income | $180.3M | $175.1M | +3.0% |
| Operating Margin | 12.2% | 18.0% | -580 bps |
| Adjusted Operating Income | $295.2M | $190.6M | +54.9% |
| Adjusted Operating Margin | 20.0% | 19.6% | +40 bps |
| Net Income attributable to ITT Inc. | $84.9M | $121.0M | -29.8% |
| Diluted EPS (GAAP) | $0.95 | $1.52 | -37.5% |
| Adjusted Diluted EPS | $2.08 | $1.76 | +18.2% |
| Net Cash from Operating Activities | $191.1M | $153.7M | +24.3% |
| Free Cash Flow | $162.0M | $137.3M | +18.0% |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Organic Revenue Growth | 5% to 8% | Non-GAAP |
| FY2026 | Revenue Growth (total) | 38% to 41% | N/A |
| FY2026 | Operating Margin | 12.8% to 13.7% | GAAP |
| FY2026 | Adjusted Operating Margin | 20.0% to 20.9% | Non-GAAP |
| FY2026 | EPS | $4.47 to $4.67 | GAAP |
| FY2026 | Adjusted EPS | $8.12 to $8.32 | Non-GAAP |
| FY2026 | Free Cash Flow | $550M to $580M | Non-GAAP |
简评
本季度ITT营收创纪录达$1,473.1M，同比+51.5%，主要驱动力为SPX FLOW并表（贡献$359.6M）及传统业务有机增长12.7%。分部表现分化明显：Flow Technologies营收同比+122.7%（有机+20.7%），受益于能源转型泵项目及SPX FLOW完整季度贡献；Connect & Control Technologies营收+17.4%，订单有机增长58.7%，国防项目动能强劲；Motion Technologies营收+5.6%，Friction售后及KONI防务业务表现稳健。GAAP营业利润率12.2%，同比大幅下降580bps，主因SPX FLOW相关无形资产摊销（$62.6M）及收购相关成本（$51.6M）；调整后营业利润率20.0%，同比+40bps，反映传统业务量价齐升及SPX FLOW完整季度贡献。
管理层上调全年指引，调整后EPS指引$8.12-$8.32（+13%-16%），有机营收增长5%-8%，自由现金流$550M-$580M。CEO Luca Savi表示SPX FLOW整合进展超预期，订单出货比>1.1x。公司宣布季度股息$0.386/股，10月5日支付。需关注SPX FLOW整合进度、无形资产摊销对GAAP利润的持续压制，以及地缘政治和关税对供应链的潜在影响。