ITT第二季收入增51.5%至14.7億美元 惟收購SPX FLOW拖累盈利

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q 
(Mark One)

☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended July 4, 2026 
or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                    to                    

Commission File Number: 001-05672 
ITT INC. 
(Exact name of Registrant as specified in its charter) 

Indiana81-1197930
(State or Other Jurisdiction
of Incorporation or Organization)(I.R.S. Employer
Identification Number)

100 Washington Blvd
06902

6th Floor, Stamford, CT
(Zip Code)
(Address of Principal Executive Offices)

(914) 641-2000 
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $1.00 per shareITTNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes  ☑    No  ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes  ☑    No  ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

☑Large accelerated filer☐
Accelerated filer☐
Non-accelerated filer☐
Smaller reporting company
☐
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐  
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes  ☐    No  ☑ 
As of August 4, 2026, there were 89.4 million shares of Common Stock (par value $1.00 per share) of the issuer outstanding.

TABLE OF CONTENTS

ITEM  
PAGE
PART I – FINANCIAL INFORMATION
1.Financial Statements (unaudited)

Consolidated Condensed Statements of Operations
1

Consolidated Condensed Statements of Comprehensive Income
2

Consolidated Condensed Balance Sheets
3

Consolidated Condensed Statements of Cash Flows
4

Consolidated Condensed Statements of Changes in Shareholders’ Equity
5

Notes to Consolidated Condensed Financial Statements:

Note 1. Description of Business and Basis of Presentation
7

Note 2. Recent Accounting Pronouncements
8

Note 3. Segment Information
9

Note 4. Revenue
12

Note 5. Restructuring Actions
13

Note 6. Income Taxes
14

Note 7. Earnings Per Share Data
15

Note 8. Receivables, Net
16

Note 9. Inventories
16

Note 10. Other Current and Non-Current Assets
17

Note 11. Plant, Property and Equipment, Net
17

Note 12. Goodwill and Other Intangible Assets, Net
18

Note 13. Accounts Payable, Accrued Liabilities and Other Non-Current Liabilities
19

Note 14. Leases
20

Note 15. Debt
20

Note 16. Long-Term Incentive Employee Compensation
23

Note 17. Capital Stock
24

Note 18. Commitments and Contingencies
25

Note 19. Derivative Financial Instruments
26

Note 20. Acquisitions
26

2.Management’s Discussion and Analysis of Financial Condition and Results of Operations

Overview
29

Discussion of Financial Results
31

Liquidity and Capital Resources
36

Key Performance Indicators and Non-GAAP Measures
39

Recent Accounting Pronouncements
42

Critical Accounting Estimates
42

3.Quantitative and Qualitative Disclosures about Market Risk
42

4.Controls and Procedures
42

PART II – OTHER INFORMATION
1.Legal Proceedings
43

1A.Risk Factors
43

2.Unregistered Sales of Equity Securities and Use of Proceeds
43

3.Defaults Upon Senior Securities
43

4.Mine Safety Disclosures
43

5.Other Information
44

6.Exhibits
45

Signature
46

WHERE YOU CAN FIND MORE INFORMATION 
We file annual, quarterly and current reports, proxy statements and other information with the U.S. Securities and Exchange Commission (the SEC). The SEC maintains a website at www.sec.gov on which you may access our SEC filings. In addition, we make available free of charge at investors.itt.com copies of materials we file with, or furnish to, the SEC as soon as reasonably practical after we electronically file or furnish these reports, as well as other important information that we disclose from time to time. Information contained on our website, or that can be accessed through our website, does not constitute a part of this Quarterly Report on Form 10-Q (this Report). We have included our website address only as an inactive textual reference and do not intend it to be an active link to our website. 
Our corporate headquarters are located at 100 Washington Boulevard, 6th Floor, Stamford, CT 06902 and the telephone number of this location is (914) 641-2000. 

FORWARD-LOOKING AND CAUTIONARY STATEMENTS
Some of the information included herein includes forward-looking statements within the meaning of the Securities Exchange Act of 1933, and the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts, but rather represent a belief regarding future events based on current expectations, estimates, assumptions and projections about our business, future financial results and the industry in which we operate, and other legal, regulatory and economic developments. These forward-looking statements include, but are not limited to, future strategic plans and other statements that describe the company’s business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future events and future operating or financial performance. 
We use words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “guidance,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “target,” “will,” “would,” and other similar expressions to identify such forward-looking statements. Forward-looking statements are uncertain and, by their nature, many are inherently unpredictable and outside of ITT’s control, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such forward-looking statements.
Where in any forward-looking statement we express an expectation or belief as to future results or events, such expectation or belief is based on current plans and expectations of our management, expressed in good faith and believed to have a reasonable basis. However, we cannot provide any assurance that the expectation or belief will occur or that anticipated results will be achieved or accomplished.
Among the factors that could cause our results to differ materially from those indicated by forward-looking statements are risks and uncertainties inherent in our business including, without limitation:
•our ability to integrate the operations of SPX FLOW in a successful manner and within the expected time period;
•the possibility that any of the anticipated benefits and projected synergies of the acquisition of SPX FLOW will not be realized or will not be realized on the anticipated terms within the expected time period;
•uncertain global economic and capital markets conditions, which have been influenced by heightened geopolitical tensions, including conflicts in the Middle East involving Iran, inflation, changes in monetary policies, the threat of a possible regional or global economic recession, trade disputes between the U.S. and its trading partners, political and social unrest, and the availability and fluctuations in prices of energy and commodities, including steel, oil, copper and tin;
•the imposition of new or increased tariffs by the U.S. government, particularly those targeting imports from specific countries, and the potential for retaliatory trade measures by affected countries, which could disrupt global supply chains, increase costs and reduce customer demand;
•fluctuations in interest rates and the impact of such fluctuations on customer behavior and on our cost of debt;
•fluctuations in foreign currency exchange rates and the impact of such fluctuations on our revenues, customer demand for our products and on our hedging arrangements;
•volatility in raw material prices and our suppliers’ ability to meet quality and delivery requirements;
•impacts and risk of liabilities from recent mergers, acquisitions, or venture investments, and past divestitures and spin-offs;

•our inability to hire or retain key personnel;
•failure to compete successfully and innovate in our markets;
•failure to manage the distribution of products and services effectively;
•failure to protect our intellectual property rights or violations of the intellectual property rights of others;
•the extent to which there are quality problems with respect to manufacturing processes or finished goods;
•the risk of cybersecurity breaches or failure of any information systems used by the Company, including any flaws in the implementation of any enterprise resource planning systems;
•loss of or decrease in sales from our most significant customers;
•risks due to our operations and sales outside the U.S. and in emerging markets, including the imposition of tariffs and trade sanctions;
•fluctuations in demand or customers’ levels of capital investment, maintenance expenditures, production, and market cyclicality;
•the risk of material business interruptions, particularly at our manufacturing facilities;
•risks related to government contracting, including changes in levels of government spending and regulatory and contractual requirements applicable to sales to the U.S. government;
•fluctuations in our effective tax rate, including as a result of changing tax laws and other possible tax reform legislation in the U.S. and other jurisdictions;
•changes in environmental laws or regulations, discovery of previously unknown or more extensive contamination, or the failure of a potentially responsible party to perform;
•failure to comply with the U.S. Foreign Corrupt Practices Act (or other applicable anti-corruption legislation), export controls and trade sanctions; and
•risk of product liability claims and litigation.
More information on factors that could cause actual results or events to differ materially from those anticipated is included in Part II, Item 1A, “Risk Factors” herein, as well as in our reports filed with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2025 (particularly under the caption “Risk Factors”), our Quarterly Reports on Form 10-Q and in other documents we file from time to time with the SEC. 
The forward-looking statements included in this Report speak only as of the date of this Report. We undertake no obligation (and expressly disclaim any obligation) to update any forward-looking statements, whether written or oral or as a result of new information, future events or otherwise. 

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)

Three Months EndedSix Months Ended
July 4,
2026June 28,
2025July 4,
2026June 28,
2025
Revenue$1,473.1 $972.4 $2,685.0 $1,885.4 
Cost of revenue963.0 621.6 1,746.1 1,211.5 
Gross profit510.1 350.8 938.9 673.9 
General and administrative expenses143.9 85.5 297.9 170.6 
Sales and marketing expenses87.5 51.4 161.2 99.1 
Research and development expenses35.8 27.2 68.9 52.6 
Intangible amortization62.6 11.6 89.3 25.6 

Operating income180.3 175.1 321.6 326.0 
Interest expense
49.7 12.6 74.5 21.9 
Interest income
(3.8)(2.4)(14.2)(4.1)
Other non-operating (income) expense, net(0.8)0.7 (2.7)(0.3)
Income before income tax expense
135.2 164.2 264.0 308.5 
Income tax expense48.7 42.5 98.1 77.7 

Net income86.5 121.7 165.9 230.8 
Less: Income attributable to noncontrolling interests1.6 0.7 3.0 1.4 
Net income attributable to ITT Inc.$84.9 $121.0 $162.9 $229.4 

Earnings per share attributable to ITT Inc.:

Basic
$0.95 $1.53 $1.85 $2.87 

Diluted$0.95 $1.52 $1.84 $2.85 

Weighted average common shares – basic89.4 79.0 87.9 80.0 
Weighted average common shares – diluted89.8 79.4 88.4 80.4 

The accompanying Notes to the Consolidated Condensed Financial Statements are an integral part of the Statements of Operations.
ITT Inc. | Q2 2026 Form 10-Q | 1

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
(IN MILLIONS) 

 
Three Months EndedSix Months Ended
July 4,
2026June 28,
2025July 4,
2026June 28,
2025
Net income$86.5 $121.7 $165.9 $230.8 
Other comprehensive (loss) income:
Net foreign currency translation adjustment1.9 80.0 (52.2)107.3 
Net change in postretirement benefit plans, net of tax impacts of $0.3, $0.4, $0.5, and $0.7, respectively
(0.8)(1.1)(1.6)(2.3)

Other comprehensive (loss) income1.1 78.9 (53.8)105.0 
Comprehensive income
87.6 200.6 112.1 335.8 
Less: Comprehensive income attributable to noncontrolling interests1.6 0.7 3.0 1.4 
Comprehensive income attributable to ITT Inc.
$86.0 $199.9 $109.1 $334.4 

Disclosure of reclassification adjustments to postretirement benefit plans:
Amortization of prior service benefit, net of tax expense of $0.2, $0.4, $0.4, and $0.7 respectively
$(0.7)$(1.1)$(1.4)$(2.2)
Amortization of net actuarial loss, net of tax benefit of $0.1, $0.0, $0.1, and $0.0, respectively
(0.1)— (0.2)(0.1)

Net change in postretirement benefit plans, net of tax$(0.8)$(1.1)$(1.6)$(2.3)

The accompanying Notes to the Consolidated Condensed Financial Statements are an integral part of the Statements of Comprehensive Income.    
ITT Inc. | Q2 2026 Form 10-Q | 2

CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED)
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS) 

As of the Period EndedJuly 4,
2026December 31, 2025
Assets
Current assets:
Cash and cash equivalents$590.8 $1,742.9 
Receivables, net1,070.2 756.1 
Inventories932.3 671.9 
Other current assets254.1 183.4 

Total current assets2,847.4 3,354.3 
Non-current assets:
Plant, property and equipment, net796.1 627.0 
Goodwill3,873.6 1,511.2 
Other intangible assets, net3,076.4 432.6 
Other non-current assets442.8 385.3 

Total non-current assets8,188.9 2,956.1 
Total assets$11,036.3 $6,310.4 
Liabilities and Shareholders’ Equity
Current liabilities:
Short-term borrowings$858.4 $261.3 
Accounts payable630.3 465.0 
Accrued and other current liabilities765.6 572.0 

Total current liabilities2,254.3 1,298.3 
Non-current liabilities:
Non-current portion of long-term debt
2,869.8 521.5 
Postretirement benefits149.7 120.0 
Other non-current liabilities952.9 279.3 

Total non-current liabilities3,972.4 920.8 
Total liabilities6,226.7 2,219.1 
Shareholders’ equity:
Common stock:
Authorized – 250.0 shares, $1 par value per share

Issued and outstanding – 89.4 shares and 85.9 shares, respectively
89.4 85.9 
Capital in excess of par value1,987.7 1,313.9 
Retained earnings3,079.8 2,987.1 
Accumulated other comprehensive loss:
Postretirement benefits(1.6)— 
Cumulative translation adjustments(354.8)(302.5)

Total accumulated other comprehensive loss(356.4)(302.5)
Total ITT Inc. shareholders’ equity4,800.5 4,084.4 
Noncontrolling interests9.1 6.9 
Total shareholders’ equity4,809.6 4,091.3 
Total liabilities and shareholders’ equity$11,036.3 $6,310.4 
    
The accompanying Notes to the Consolidated Condensed Financial Statements are an integral part of the Balance Sheets.
ITT Inc. | Q2 2026 Form 10-Q | 3

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED)
(IN MILLIONS)

For the Six Months Ended
July 4,
2026June 28,
2025
Operating Activities
Net income attributable to ITT Inc.$162.9 $229.4 
Adjustments to income from continuing operations:
Depreciation and amortization149.6 72.7 
Equity-based compensation20.1 17.2 

Other non-cash charges, net23.7 14.2 
Changes in assets and liabilities:
Change in receivables(114.0)(51.6)
Change in inventories(1.1)(11.9)
Change in contract assets(8.7)(6.0)
Change in contract liabilities(8.8)34.8 
Change in accounts payable42.6 (9.3)
Change in accrued expenses(8.4)(8.4)
Change in income taxes(9.8)(4.6)
Other, net(17.0)(9.4)
Net Cash – Operating Activities231.1 267.1 
Investing Activities
Acquisitions, net of cash acquired(3,542.7)(0.2)
Capital expenditures(55.2)(53.2)

Other, net(0.1)(3.6)
Net Cash – Investing Activities(3,598.0)(57.0)
Financing Activities
Commercial paper, net borrowings506.1 (25.8)

Long-term debt issued, net of debt issuance costs
2,868.3 748.8 
Long-term debt repayments
(957.3)(360.5)
Share repurchases under repurchase plan(104.9)(500.8)
Payments for taxes related to net share settlement of stock incentive plans(20.2)(13.4)
Dividends paid(69.5)(56.2)
Other, net(2.1)(0.7)
Net Cash – Financing Activities2,220.4 (208.6)
Exchange rate effects on cash and cash equivalents(4.7)27.5 
Net cash – operating activities of discontinued operations(0.3)(0.1)
Net change in cash and cash equivalents(1,151.5)28.9 

Cash and cash equivalents – beginning of year (includes restricted cash of $0.8 and $0.7, respectively)
1,743.7 440.0 
Cash and Cash Equivalents – End of Period (includes restricted cash of $1.4 and $1.0, respectively)
$592.2 $468.9 
Supplemental Disclosures of Cash Flow and Non-Cash Information:

Cash paid for interest
$53.6 $20.9 
Cash paid for income taxes, net of refunds received
92.2 69.2 
Capital expenditures included in current liabilities
14.8 16.4 
Equity value of common stock issued to acquire SPX FLOW
777.2 — 

The accompanying Notes to the Consolidated Condensed Financial Statements are an integral part of the Statements of Cash Flows.
ITT Inc. | Q2 2026 Form 10-Q | 4

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED)
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS) 

As of and for the Three Months Ended 
July 4, 2026
Common StockCapital in Excess of par valueRetained EarningsAccumulated Other Comprehensive LossNoncontrolling InterestTotal Shareholders' Equity
(Shares)(Dollars)
April 4, 202689.4$89.4 $1,976.1 $3,030.1 $(357.6)$7.7 $4,745.7 
Net income— — — 84.9 — 1.6 86.5 

Activity from employee stock plans— — 11.9 — — — 11.9 

Shares withheld related to net share settlement of stock incentive plans— — (0.3)— — — (0.3)
Dividends declared ($0.386 per share)
— — — (35.2)— — (35.2)

Net change in postretirement benefit plans, net of tax— — — — (0.8)— (0.8)
Net foreign currency translation adjustment— — — — 2.0 — 2.0 
Other— — — — — (0.2)(0.2)
July 4, 2026
89.4 $89.4 $1,987.7 $3,079.8 $(356.4)$9.1 $4,809.6 

As of and for the Six Months Ended 
July 4, 2026

December 31, 2025
85.9 $85.9 $1,313.9 $2,987.1 $(302.5)$6.9 $4,091.3 
Net income— — — 162.9 — 3.0 165.9 
Shares issued3.8 3.8 773.4 — — — 777.2 
Activity from employee stock plans0.3 0.3 20.7 — — — 21.0 
Shares repurchased under repurchase plan(0.5)(0.5)(100.2)— — — (100.7)
Shares withheld related to net share settlement of stock incentive plans(0.1)(0.1)(20.1)— — — (20.2)
Dividends declared ($0.772 per share)
— — — (70.1)— — (70.1)
Dividends to noncontrolling interest— — — — — (0.8)(0.8)

Net change in postretirement benefit plans, net of tax— — — — (1.6)— (1.6)
Net foreign currency translation adjustment— — — — (52.2)— (52.2)
Other— — — (0.1)(0.1)— (0.2)
July 4, 2026
89.4 $89.4 $1,987.7 $3,079.8 $(356.4)$9.1 $4,809.6 

ITT Inc. | Q2 2026 Form 10-Q | 5

As of and for the Three Months Ended 
June 28, 2025
Common StockRetained EarningsAccumulated Other Comprehensive LossNoncontrolling InterestTotal Shareholders' Equity
(Shares)(Dollars)
March 29 202581.0 $81.0 $3,090.5 $(392.2)$6.5 $2,785.8 
Net income— — 121.0 — 0.7 121.7 

Activity from employee stock plans— — 9.3 — — 9.3 
Share repurchases under repurchase plan(3.0)(3.0)(401.1)— — (404.1)
Shares withheld related to net share settlement of stock incentive plans— — (0.4)— — (0.4)
Dividends declared ($0.351 per share)
— — (27.5)— — (27.5)
Dividends to noncontrolling interest— — — — (0.1)(0.1)

Net change in postretirement benefit plans, net of tax— — — (1.1)— (1.1)
Net foreign currency translation adjustment— — — 80.0 — 80.0 

June 28, 2025
78.0 $78.0 $2,791.8 $(313.3)$7.1 $2,563.6 

As of and for the Six Months Ended 
June 28, 2025

December 31, 2024
81.5 $81.5 $3,115.6 $(418.3)$7.0 $2,785.8 
Net income— — 229.4 — 1.4 230.8 

Activity from employee stock plans0.3 0.3 17.4 — — 17.7 
Share repurchased under repurchase plan(3.7)(3.7)(501.2)— — (504.9)
Shares withheld related to net share settlement of stock incentive plans(0.1)(0.1)(13.3)— — (13.4)
Dividends declared ($0.702 per share)
— — (56.1)— — (56.1)
Dividends to noncontrolling interest— — — — (1.3)(1.3)

Net change in postretirement benefit plans, net of tax— — — (2.3)— (2.3)
Net foreign currency translation adjustment— — — 107.3 — 107.3 

June 28, 2025
78.0 $78.0 $2,791.8 $(313.3)$7.1 $2,563.6 

The accompanying Notes to the Consolidated Condensed Financial Statements are an integral part of the Statements of Changes in Shareholders’ Equity.
ITT Inc. | Q2 2026 Form 10-Q | 6

NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
(DOLLARS AND SHARES (EXCEPT PER SHARE AMOUNTS) IN MILLIONS, UNLESS OTHERWISE STATED)

NOTE 1 
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION 
Description of Business
ITT Inc. is a diversified manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Unless the context otherwise indicates, references herein to “ITT,” “the Company,” and such words as “we,” “us,” and “our” include ITT Inc. and its subsidiaries. ITT operates through three reportable segments: Flow Technologies (FT) (formerly Industrial Process), consisting of nutrition and health, as well as flow equipment and services; Motion Technologies (MT), consisting of friction and shock and vibration equipment; and Connect & Control Technologies (CCT), consisting of electronic connectors and cable assemblies, fluid handling, motion control, and noise and energy absorption products. Financial information for our segments is presented in Note 3, Segment Information.
Business Combinations
On March 2, 2026, the Company completed the acquisition of SPX FLOW, Inc. (SPX FLOW) for a preliminary purchase price of $4,311.3, net of cash acquired. Subsequent to the acquisition, SPX FLOW’s results are reported within our FT segment. Refer to Note 20, Acquisitions, for more information regarding the SPX FLOW business combination.
Basis of Presentation
The unaudited consolidated condensed financial statements have been prepared pursuant to the rules and regulations of the SEC and, in the opinion of management, reflect all known adjustments (which consist primarily of normal, recurring accruals, estimates and assumptions) necessary to state fairly the financial position, results of operations, and cash flows for the periods presented. The Consolidated Condensed Balance Sheet as of December 31, 2025, presented herein, has been derived from our audited balance sheet included in our Annual Report on Form 10-K (2025 Annual Report) for the year ended December 31, 2025, but does not include all disclosures required by accounting principles generally accepted in the United States (GAAP). Other than the Reclassification - Intangible amortization expenses described below, we consistently applied the accounting policies described in the 2025 Annual Report in preparing these unaudited financial statements. These financial statements should be read in conjunction with the financial statements and notes thereto included in our 2025 Annual Report.
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Estimates are revised as additional information becomes available. Estimates and assumptions are used for, but not limited to, revenue recognition, unrecognized tax benefits, deferred tax valuation allowances, projected benefit obligations for postretirement plans, accounting for business combinations, goodwill and other intangible asset impairment testing, environmental liabilities and assets, allowance for credit losses, inventory valuation, and assets held for sale. Actual results could differ from these estimates.
ITT’s quarterly financial periods end on the Saturday following a 13-week reporting period, except for the last quarterly period of the fiscal year, which ends on December 31st. ITT’s six-month period ended July 4, 2026 included an additional six days compared to the prior year six-month period ended June 28, 2025.
Reclassification - Intangible amortization expenses
Effective January 1, 2026, the Company reclassified intangible amortization expenses as a separate financial statement line item within the Consolidated Statements of Operations. As part of the integration of SPX FLOW, the Company has seen diversity in practice in the classification of intangible amortization expenses, and the reclassification was made to enhance transparency and comparability on the Consolidated Statements of Operations. Previously, intangible amortization expenses were included within cost of revenues, sales and marketing, research and development, and general and administrative, and was not presented as a separate financial statement line item.
ITT Inc. | Q2 2026 Form 10-Q | 7

The Company has reclassified prior‑period amounts to conform to the current‑period presentation. The reclassifications had no impact on operating income, income before income taxes, net income, or earnings per share. The impact of the reclassification on our previously issued Consolidated Condensed Statement of Operations financial statements is presented in the following table:
Consolidated Condensed Statement of Operations

Three Months Ended June 28, 2025As previously reported 
Effect of ChangeAs Adjusted
Cost of revenue$625.6 $(4.0)$621.6 
Gross profit346.8 4.0 350.8 
General and administrative expenses85.7 (0