Short answer
Itt Inc (ITT) filed its fiscal 2018 10-K annual report with the SEC on Feb 22, 2019. It reported revenue of $2.7B (+6.2% year over year) and net income of $334M.
- Top risk flagged: Asbestos claims: all primary insurance policies exhausted, increasing potential net cash outflows
FY2018 key financial metrics · XBRL
- Revenue
- $2.7B
- +6.2% YoY
- Net income
- $334M
- +194.0% YoY
- Operating margin
- 14.5%
- +2.5 pp YoY
- Gross margin
- 32.3%
- +0.7 pp YoY
- EPS (diluted)
- $3.76
- +193.7% YoY
- ROE
- 18.3%
- +11.2 pp YoY
- Operating cash flow
- $372M
- +50.3% YoY
Source: XBRL data from the Itt Inc (ITT) FY2018 10-K on SEC EDGAR. USD.
Itt Inc FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Three-segment engineered-products model, combining OEM platforms, aftermarket opportunities, and recurring revenue
- Continued emphasis on global expansion, new product development, and Lean enterprise improvements beyond factory operations
- Capital allocation priority shifted toward organic growth before acquisitions, with targeted purchases limited to differentiated technologies
- International brand presence across China, Mexico, Brazil, Saudi Arabia, and Russia
- MT portfolio spans transportation brake, shock absorption, sealing, and friction technologies across automotive, commercial, military, bus, and rail markets
Management Discussion & Analysis
- Revenue $2,745.1, up 6.2% YoY, with organic revenue growth of 4.2%
- Operating margin 14.5% vs 12.4%, gross margin 32.3% vs 31.7%
- Best segment: Motion Technologies revenue $1,274.1, operating income $223.4, margin 17.5%
- Worst segment: Industrial Process revenue $827.1, operating income $91.4, margin 11.1%
- Operating cash flow $371.8, capex $95.5, dividends $47.3, buybacks $50.0; 2019 risks include tariffs, commodities, pricing and foreign exchange
Risk Factors
- Asbestos claims: all primary insurance policies exhausted, increasing potential net cash outflows
- International exposure: 68% of 2018 sales to customers outside the United States
- Tariffs: U.S. duties increased prices for imported parts and materials, pressuring costs
- Customer concentration: Continental represented approximately 11% of 2018 revenue
- Cybersecurity: government-contractor systems face heightened foreign-government and cyber-terrorist breach risk
Generated from the filing text; verify against the original. How to read a 10-K
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