ITT Inc. · NYSE:ITT

ITT — ITT Industries — Q1 2004 Earnings Presentation

7 slides from ITT's earnings presentation, Apr 22, 2004

  1. Slide 1: First Quarter 2004 Investor Review

    First Quarter 2004 Investor Review April 22, 2004 Financial Results Adjusted for 1 Reported Special Items 1Q03 1Q04 1Q03 1Q04 1,515.9 • Organic Growth 10% 1,296.4 – Led by Defense, Water Revenues Treatment and Electronic +16.9% Components 146.6 $151.1 Segment 128.9 $138.2 • Higher volume Operating •

  2. Slide 2: Net Income / EPS and Special Items

    Net Income / EPS $, Millions except EPS 2 1Q03 1Q04 $∆ Income from Operations 138.2 151.1 +12.9 Corporate Expense (18.1) (17.4) + 0.7 Interest, Net(1) (7.0) (5.3) + 1.7 Other (0.7) (2.3) - 1.6 Taxes (1) (34.8) (39.1) - 4.3 Income before special items 77.6 87.0 + 9.4 Special Items(2) 9.1 1.9 - 7.2 Ne

  3. Slide 3: Cash from Operations and Balance Sheet

    Cash from Operations $, Millions 4 1Q03 1Q04 Income from Continuing Ops 86.7 88.1 Depreciation 40.9 44.0 Amortization 4.9 4.9 Working Capital (84.6) (119.4) Pension Pre-funding (200.0) (100.0) Other (63.6) (33.1) CFOA (215.7) (115.5) Capital Expenditures (21.8) (29.0) Pension Pre-funding 200.0 100.0

  4. Slide 4: Fluid Technology; Defense Electronics & Services

    6 Fluid Technology Revenues Operating Income Operating Margin 574.9 503.6 56.3 55.9 11.2% 9.7% +14.2% (0.7)% (150) b.p. 1Q03 1Q04 1Q03 1Q04 1Q03 1Q04 Financial Highlights Market Highlights • Organic Growth +3% • Water/wastewater bid activity • Water Treatment +16.5% continues strong • Industrial Pro

  5. Slide 5: Motion & Flow Control; Electronic Components

    8 Motion & Flow Control Revenues Operating Income Operating Margin 274.0 38.5 39.3 14.9% 258.1 14.3% +6.2% +2.1% (60) b.p. 1Q03 1Q04 1Q03 1Q04 1Q03 1Q04 Financial Highlights Market Highlights • Organic Growth in Higher Margin • Leisure Marine improving cost Businesses with market share gains structu

  6. Slide 6: Earnings Outlook Update and 2004 Earnings Outlook

    Earnings Outlook Update 10 Current 2004 Guidance $4.15 – 4.25 • Defense’s accelerating organic revenue growth rate +14c • Market share gains among Mo/Flo businesses +5c • Fluid Technology - WEDECO contribution +3c • Electronic Components sales activity increase +2c • Change in Effective Tax Rate +1c

  7. Slide 7: ITT Industries – Engineered for life

    ITT Industries Engineered for life

ITT Industries — Q1 2004 Earnings Presentation on 6ix