On this page of StockholderLetter.com we present the latest annual shareholder letter from ITT INC. — ticker symbol ITT. Reading current and past ITT letters to shareholders can bring important insights into the investment thesis.
A n n u a l R e p or t 2025 About Us Revenue Profile At ITT, we have a clear purpose as an organization to provide our customers with cutting-edge solutions to help solve their most critical needs across key global end markets. Our continuous improvement mindset drives our commitment to evolving our capabilities as a multi-industrial technology, Segments manufacturing and engineering leader. Motion Technologies Financial Highlights Industrial Process Connect & Control Technologies (In millions, except per share data) $717 $3,939 $3,631 $645 $557 $3,283 17.0% FY 2023 FY 2024 FY 2025 FY 2023 18.2% 17.8% 17.7% 16.9% FY 2024 Regions FY 2025 Adjusted Operating Income & Adjusted Operating Margin* Revenue $555 $6.72 $430 $5.88 North America Asia Europe Middle East & Africa South America $439 $5.24 End Markets FY 2023 FY 2024 FY 2025 Adjusted Earnings Per Share* FY 2023 FY 2024 FY 2025 Free Cash Flow* Automotive & Rail Chemical & Industrial Pumps * For a reconciliation of non-GAAP to GAAP results, please refer to the pages preceding the back cover of this Annual Report. Following the acquisition of SPX FLOW, Inc., the combined legacy IP segment and SPX FLOW was renamed Flow Technologies. Aerospace & Defense Energy General Industrial
A n n u a l R e p or t 2025 CEO Letter Dear Stakeholders, The ITT leadership team and I are deeply proud of what our ITTers achieved over the past year. Across every business and region, ITTers demonstrated exceptional dedication to serving our customers. Their commitment delivered another year of strong performance and positioned our company for continued growth, thanks to the differentiation in the market that each and every ITTer demonstrates each and every day. I want to thank every ITTer for their outstanding and hard work. 2025 was, at its core, a year of growth, built on the strength of our core businesses, fueled by execution and innovation, and accelerated by our strategic acquisitions. We delivered a solid financial performance: share gains and strong execution drove 8% total revenue growth, double digit adjusted EPS growth reflecting both continuous operational improvement and higher segment profitability, and record free cash flow margin of 14%, supported by over 100% cash conversion. Orders were strong with 5% organic growth and a book-to-bill comfortably above one, building a record backlog and ensuring sustainable growth and market share gains to come. The fundamentals are strong, the financials are solid and the portfolio is growing and expanding. Execution is core to who we are at ITT and a powerful enabler of our organic growth. Through our SQDC (Safety, Quality, Delivery, Cost) framework, our teams continued to raise performance standards and serve our customers better and better. Let me share just a few examples with you from across our portfolio. Industrial Process, which we renamed Flow Technologies following the SPX FLOW acquisition, delivered outstanding execution on projects and strengthened its position in valves with double-digit orders growth. Connect & Control Technologies flawlessly met the ramping demand in aerospace and defense and secured new wins on next generation platforms. Connectors, Controls and kSARIA all performed well. These innovations not only supported our 2025 results but also expanded our addressable markets and ITT s long term organic growth pipeline. Whilst our core businesses continued to grow organically, M&A provided a critical second engine for growth and continues to be an important part of ITT s journey: Svaneh j grew organic revenue 33% over 2025 and continued to strengthen its position in the marine energy transition market. kSARIA grew topline 11%, delivering strong momentum in defense interconnect solutions and broadening ITT s presence in mission critical applications. And last but not least we also signed the acquisition of SPX FLOW, a milestone and a major step in the advancement of our long term portfolio reshaping. SPX FLOW expands our scale in Flow, strengthens our participation in high growth end markets, and broadens our product and technology portfolio, and the integration is progressing well. All of this would not have been possible without the hard and outstanding work of all our ITTers around the world. They are the doers and real stars of ITT s 2025 performance. We continue to recognize and invest in them through proper rewards and training and development, ensuring we offer growth opportunities for ITTers at all stages of their careers. These actions help ensure that our growth is sustainable, resilient, aligned with our values and paired with our ITTers personal growth and development. Motion Technologies continued to outperform core transportation markets through world class manufacturing, unmatched delivery and quality, and close partnership with automotive, rail, and defense customers. We enter 2026 with strong momentum. Our continuous improvement mindset and healthy paranoia reinforced ITT s competitive differentiation and helped deliver another year of solid organic growth and expanding profitability. We have a robust backlog and leadership positions in attractive markets. Our organic growth was also driven by our continued investments in innovation: We have a growing innovation pipeline, and a portfolio of high growth, high margin businesses. In Flow, our teams partnered with customers on major energy transition and decarbonization initiatives, applying advanced multiphase and clean process technologies. Notably, our Svaneh j operation continues to power a better future by launching two new key products for the marine sector the next-generation NCM Engine Room Pump and the High-Pressure NH3 (Ammonia) Fuel Pump. We have the financial strength to continue investing in organic opportunities. In Connectors, rapid concept to prototype cycles drove wins in high growth aerospace and defense applications on highly coveted platforms. And most notably, we have the right ITTers and talent to continue our incredible value creation journey. In Motion Technologies, leadership in material science R&D and automation opened new opportunities in automotive, rail, and highperformance platforms. Thank you for your continued partnership and support. I look forward to sharing more with you in the year ahead. We launched VIDAR, our next generation embedded motor drive platform and continued to build a long-term growth pipeline with customers across all industrial end markets. We made our largest acquisition to date with SPX FLOW. We have the strategic vision to continue cultivating value creation opportunities. Sincerely, Luca Savi Chief Executive Officer & President ITT Inc.
A n n u a l R e p or t 2025 Meet Our Team ITT Board of Directors Kevin Berryman Maggie Chu Donald DeFosset Jr. Former CFO and President Jacobs Solutions, Inc. Senior Vice President & CHRO Littelfuse, Inc. Former Chairman, President & CEO Walter Industries Inc. Douglas DelGrosso Nazzic Keene Mary Laschinger Former President and CEO Adient Former CEO Science Applications International Corporation Former CEO Veritiv Corporation Rebecca A. McDonald Christopher O Shea Timothy H. Powers Former CEO Laurus Energy, Inc. CEO Centrica plc Former Chairman, President & CEO Hubbell, Inc. Luca Savi Sharon Szafranski CEO & President ITT Inc. EVP, Welding Segment Illinois Tool Works Inc. ITT Leadership Team Luca Savi Davide Barbon Emmanuel Caprais Chief Executive Officer and President Senior Vice President and President, Motion Technologies & Asia Pacific Senior Vice President and Chief Financial Officer Michael Guhde Bartek Makowiecki Lori B. Marino Senior Vice President and President, Connect & Control Technologies Senior Vice President, Chief Strategy Officer and President, Industrial Process Senior Vice President, Chief Legal Officer, Secretary & Chief Compliance Officer Annual Meeting of Shareholders Ethics Champion Program Deloitte & Touche LLP 695 East Main Street Stamford, CT 06901 The annual meeting will be held at 9 a.m. ET on Thursday May 21, 2026 virtually via a live webcast at www.virtualshareholdermeeting.com/ITT2026 The ITT Ethics Champion Program encourages employees to report possible violations of our Code of Corporate Conduct or other misconduct. The ITT Ethics Champion can be contacted at: ethics.champion@itt.com Transfer Agent & Registrar Corporate Governance Computershare PO Box 43006 Providence, RI 02940 Within US: 1-888-217-2614 Outside US: 1-781-575-3100 Copies of the ITT Code of Conduct, Corporate Governance Principles and Committee charters are available on our website: www.itt.com. For General Corporate and Financial Information, Contact: Emrana Sheikh Senior Vice President and Chief Human Resources Officer Shareholder Information Independent Registered Public Accounting Firm CEO & President Worldwide Employees Founded NYSE Luca Savi 11,600+* 1920 ITT * ITT employees are as of December 2025, prior to the closing of the SPX FLOW acquisition. Carleen Salvage, VP, Investor Relations and Financial Planning and Analysis carleen.salvage@itt.com
 • shareholder letter icon 4/3/2026 Letter Continued (Full PDF)
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 • stockholder letter icon 4/2/2024 ITT Stockholder Letter
 • stockholder letter icon 4/8/2025 ITT Stockholder Letter
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 • Benford's Law Stocks icon ITT Benford's Law Stock Score = 96


ITT Shareholder/Stockholder Letter Transcript:

Annual Report
2025
www.itt.com

A n n u a l R e p or t 2025
About Us
Revenue Profile
At ITT, we have a clear purpose as an organization     to
provide our customers with cutting-edge solutions to help
solve their most critical needs across key global end markets.
Our continuous improvement mindset drives our commitment
to evolving our capabilities as a multi-industrial technology,
Segments
manufacturing and engineering leader.
Motion Technologies
Financial Highlights
Industrial Process   
Connect & Control Technologies
(In millions, except per share data)
$717
$3,939
$3,631
$645
$557
$3,283
17.0%
FY 2023
FY 2024
FY 2025
FY 2023
18.2%
17.8%
17.7%
16.9%
FY 2024
Regions
FY 2025
Adjusted Operating Income
& Adjusted Operating Margin*
Revenue
$555
$6.72
$430
$5.88
North America
Asia
Europe
Middle East & Africa
South America
$439
$5.24
End Markets
FY 2023
FY 2024
FY 2025
Adjusted Earnings Per Share*
FY 2023
FY 2024
FY 2025
Free Cash Flow*
Automotive & Rail
Chemical & Industrial Pumps
* For
a reconciliation of non-GAAP to GAAP results, please refer to the pages preceding the back cover of this
Annual Report.
    Following the acquisition of SPX FLOW, Inc., the combined legacy IP segment and SPX FLOW was renamed
Flow Technologies.
Aerospace & Defense
Energy
General Industrial

A n n u a l R e p or t 2025
CEO
Letter
Dear Stakeholders,
The ITT leadership team and I are deeply proud of what our ITTers achieved over the past year.
Across every business and region, ITTers demonstrated exceptional dedication to serving our
customers.
Their commitment delivered another year of strong performance and
positioned our company for continued growth, thanks to the differentiation
in the market that each and every ITTer demonstrates each and every day.
I want to thank every ITTer for their outstanding and hard work.
2025 was, at its core, a year of growth, built on the strength of our core
businesses, fueled by execution and innovation, and accelerated by our
strategic acquisitions. We delivered a solid financial performance: share
gains and strong execution drove 8% total revenue growth, double digit
adjusted EPS growth reflecting both continuous operational improvement
and higher segment profitability, and record free cash flow margin of 14%,
supported by over 100% cash conversion. Orders were strong with 5%
organic growth and a book-to-bill comfortably above one, building a record
backlog and ensuring sustainable growth and market share gains to come.
The fundamentals are strong, the financials are solid and the portfolio is
growing and expanding.
Execution is core to who we are at ITT and a powerful enabler of our
organic growth. Through our SQDC (Safety, Quality, Delivery, Cost)
framework, our teams continued to raise performance standards and
serve our customers better and better. Let me share just a few examples
with you from across our portfolio.
Industrial Process, which we renamed Flow Technologies following the
SPX FLOW acquisition, delivered outstanding execution on projects and
strengthened its position in valves with double-digit orders growth.
Connect & Control Technologies flawlessly met the ramping demand in
aerospace and defense and secured new wins on next generation
platforms. Connectors, Controls and kSARIA all performed well.
These innovations not only supported our 2025 results but also expanded
our addressable markets and ITT   s long term organic growth pipeline.
Whilst our core businesses continued to grow organically, M&A provided a
critical second engine for growth and continues to be an important part of
ITT   s journey:

Svaneh  j grew organic revenue 33% over 2025 and continued to
strengthen its position in the marine energy transition market.

kSARIA grew topline 11%, delivering strong momentum in defense
interconnect solutions and broadening ITT   s presence in mission
critical applications.

And last but not least we also signed the acquisition of SPX FLOW, a
milestone and a major step in the advancement of our long term
portfolio reshaping. SPX FLOW expands our scale in Flow, strengthens
our participation in high growth end markets, and broadens our
product and technology portfolio, and the integration is progressing
well.
All of this would not have been possible without the hard and outstanding
work of all our ITTers around the world. They are the doers and real stars
of ITT   s 2025 performance. We continue to recognize and invest in them
through proper rewards and training and development, ensuring we offer
growth opportunities for ITTers at all stages of their careers. These
actions help ensure that our growth is sustainable, resilient, aligned with
our values and paired with our ITTers    personal growth and development.
Motion Technologies continued to outperform core transportation
markets through world class manufacturing, unmatched delivery and
quality, and close partnership with automotive, rail, and defense
customers.
We enter 2026 with strong momentum.
Our continuous improvement mindset and healthy paranoia reinforced
ITT   s competitive differentiation and helped deliver another year of solid
organic growth and expanding profitability.
We have a robust backlog and leadership positions in attractive markets.
Our organic growth was also driven by our continued investments in
innovation:
We have a growing innovation pipeline, and a portfolio of high growth, high
margin businesses.
In Flow, our teams partnered with customers on major energy
transition and decarbonization initiatives, applying advanced
multiphase and clean process technologies. Notably, our Svaneh  j
operation continues to power a better future by launching two new key
products for the marine sector     the next-generation NCM Engine
Room Pump and the High-Pressure NH3 (Ammonia) Fuel Pump.
We have the financial strength to continue investing in organic
opportunities.

In Connectors, rapid concept to prototype cycles drove wins in high
growth aerospace and defense applications on highly coveted
platforms.
And most notably, we have the right ITTers and talent to continue our
incredible value creation journey.

In Motion Technologies, leadership in material science R&D and
automation opened new opportunities in automotive, rail, and highperformance platforms.
Thank you for your continued partnership and support. I look forward to
sharing more with you in the year ahead.

We launched VIDAR, our next generation embedded motor drive
platform and continued to build a long-term growth pipeline with
customers across all industrial end markets.

We made our largest acquisition to date with SPX FLOW.
We have the strategic vision to continue cultivating value creation
opportunities.
Sincerely,
Luca Savi
Chief Executive Officer & President
ITT Inc.

A n n u a l R e p or t 2025
Meet Our Team
ITT Board of Directors
Kevin Berryman
Maggie Chu
Donald DeFosset Jr.
Former CFO and President
Jacobs Solutions, Inc.
Senior Vice President & CHRO
Littelfuse, Inc.
Former Chairman, President & CEO
Walter Industries Inc.
Douglas DelGrosso
Nazzic Keene
Mary Laschinger
Former President and CEO
Adient
Former CEO
Science Applications International Corporation
Former CEO
Veritiv Corporation
Rebecca A. McDonald
Christopher O   Shea
Timothy H. Powers
Former CEO
Laurus Energy, Inc.
CEO
Centrica plc
Former Chairman, President & CEO
Hubbell, Inc.
Luca Savi
Sharon Szafranski
CEO & President
ITT Inc.
EVP, Welding Segment
Illinois Tool Works Inc.
ITT Leadership Team
Luca Savi
Davide Barbon
Emmanuel Caprais
Chief Executive Officer
and President
Senior Vice President and President,
Motion Technologies & Asia Pacific
Senior Vice President
and Chief Financial Officer
Michael Guhde
Bartek Makowiecki
Lori B. Marino
Senior Vice President and President,
Connect & Control Technologies
Senior Vice President, Chief Strategy Officer
and President, Industrial Process
Senior Vice President, Chief Legal Officer,
Secretary & Chief Compliance Officer
Annual Meeting of Shareholders
Ethics Champion Program
Deloitte & Touche LLP
695 East Main Street
Stamford, CT 06901
The annual meeting will be held at
9 a.m. ET on Thursday May 21, 2026
virtually via a live webcast at
www.virtualshareholdermeeting.com/ITT2026
The ITT Ethics Champion Program encourages
employees to report possible violations of
our Code of Corporate Conduct or other
misconduct. The ITT Ethics Champion can be
contacted at: ethics.champion@itt.com
Transfer Agent & Registrar
Corporate Governance
Computershare PO Box 43006
Providence, RI 02940
Within US: 1-888-217-2614
Outside US: 1-781-575-3100
Copies of the ITT Code of Conduct,
Corporate Governance Principles
and Committee charters are available on our
website: www.itt.com.
For General Corporate and
Financial Information, Contact:
Emrana Sheikh
Senior Vice President
and Chief Human Resources Officer
Shareholder Information
Independent Registered Public
Accounting Firm
CEO & President
Worldwide Employees
Founded
NYSE
Luca Savi
11,600+*
1920
ITT
* ITT
employees are as of December 2025, prior to the closing of the SPX FLOW acquisition.
Carleen Salvage, VP, Investor Relations and
Financial Planning and Analysis
carleen.salvage@itt.com


shareholder letter icon 4/3/2026 Letter Continued (Full PDF)
 

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