Earnings Preview: ITT Corporation

ITT Corporation (ITT) is expected to report Q2 earnings before market open Friday July 25, with a conference call scheduled for 8:30 a.m. ET.

Guidance

Analysts are looking for EPS of $1.10 on revenue of $2.93B. The consensus range is $1.06 to $1.13 for EPS, and revenue range of $2.89B to $2.95B, according to First Call. When ITT Corp. reported its Q1 earnings it gave guidance for FY08 EPS and revenue. The company expects FY08 EPS of $4.00 to $4.10 vs. consensus $4.10, and FY08 revenue of $11.4B to $11.5B vs. consensus $11.52B.

Analyst Views

In May, Sterne Agee said the company's businesses are doing well and have done better than investors expected. The firm said ITT Corp. remains on track to drive higher operating margins and healthy organic revenue growth. The firm raised its target for the company to $75 from $72 and gave its shares a Buy rating. Investors will be interested to see if the company can continue to progress in the slowing economy and beat estimates for Q2.