ITT Inc. (NYSE:ITT) Q3 2024 Earnings Conference Call October 29, 2024 8:30 AM ET
Company Participants
Mark Macaluso - Vice President, Investor Relations & Global Communications
Luca Savi - Chief Executive Officer & President
Emmanuel Caprais - Chief Financial Officer
Conference Call Participants
Joe Giordano - TD Cowen
Scott Davis - Melius
Andrew Obin - Bank of America
Mike Halloran - Baird
Vlad Bystricky - Citigroup
Damian Karas - UBS
Joe Ritchie - Goldman Sachs
Nathan Jones - Stifel
Matt Summerville - D.A. Davidson Co.
Operator
Welcome to ITT's 2024 Third Quarter Conference Call. Today is Tuesday, October 29, 2024. Today's call is being recorded and will be available for replay beginning at 12:00 p.m. Eastern Time. At this time, all participants have been placed in a listen-only mode and the floor will be opened for your questions following the presentation. [Operator Instructions]
It is now my pleasure to turn the floor over to Mark Macaluso, Vice President, Investor Relations and Global Communications. You may begin.
Mark Macaluso
Thank you, Gigi and good morning. Joining me this morning in Stanford are Luca Savi, ITT's, Chief Executive Officer and President; and Emmanuel Caprais, Chief Financial Officer. Today's call will cover ITT's financial results for the three-month period ending September 28, 2024, which we announced this morning.
Before we begin, please refer to Slide 2 of today's presentation, where we note that today's comments include forward-looking statements that are based on our current expectations. Actual results may differ materially due to several risks and uncertainties, including those described in our 2023 annual report on Form 10-K and other recent SEC filings.
Except for otherwise noted, the third quarter results we presented this morning will be compared to the third quarter of 2023 and include certain non-GAAP financial measures. The reconciliation of such measures to most comparable GAAP figures are detailed in our earnings release and in the appendix of our presentation, both of which are available on our website.
With that, it's now my pleasure to turn the call over to Luca, who will begin on Slide 3.
Luca Savi
Thank you, Mark and good morning. I would like to begin by thanking all ITT-iers for another exceptional performance in the third quarter. Once again, our teams delivered strong profitable growth with even more robust growth in orders. First, in our legacy business, we continue to drive value creation through outsized organic growth and margin expansion, with an operating margin above our long-term target nearly two years ahead of schedule. And whilst we continue to drive profitable growth in the core, we are also building the M&A muscle through strategic capital deployment.