AcquisitionsMay 6, 2026, 04:16 PM
ITT Completes SPX FLOW Acquisition; Q1 Revenue $1.21B, EPS $0.89
AI Summary
ITT Inc. completed the acquisition of SPX FLOW for a preliminary purchase price of $4.31 billion on March 2, 2026, significantly expanding its Flow Technologies segment. For Q1 2026, the company reported a substantial increase in revenue to $1.21 billion, up from $913.0 million in Q1 2025, largely driven by the acquisition. However, net income attributable to ITT Inc. decreased to $78.0 million, or $0.89 diluted EPS, compared to $108.4 million, or $1.33 diluted EPS, in the prior year, impacted by acquisition-related costs and a higher effective tax rate.
Key Highlights
- Acquisition of SPX FLOW completed on March 2, 2026, for a preliminary purchase price of $4.31 billion.
- Q1 2026 Revenue increased to $1.21 billion from $913.0 million in Q1 2025.
- Net income attributable to ITT Inc. decreased to $78.0 million from $108.4 million year-over-year.
- Diluted EPS fell to $0.89 in Q1 2026 from $1.33 in Q1 2025.
- Operating income for Q1 2026 was $141.2 million, down from $150.9 million in the prior year.
- Effective tax rate rose to 38.3% in Q1 2026 from 24.4% in Q1 2025.
- Issued $2.87 billion in long-term debt, net of issuance costs, primarily for the acquisition.
- Total backlog stood at $2.51 billion as of April 4, 2026.