• A more focused Honeywell, specializing in engineered industrial components and motion technologies.
• Like a Parker Hannifin or Eaton, manufacturing highly engineered components for industrial, aerospace, and automotive applications.

• Motion Technologies: Provides brake pads, friction materials, and specialized shock absorbers for the transportation and industrial sectors.
• Industrial Process: Manufactures and services engineered fluid process equipment, including industrial pumps, valves, and aftermarket parts for critical infrastructure.
• Connect and Control Technologies: Offers highly engineered connectors, critical fluid and motion control components, and energy absorption solutions for diverse markets like aerospace, defense, and medical.

ITT Inc. (symbol: ITT) primarily sells its highly engineered critical components and customized technology solutions to other businesses (B2B) across various industrial sectors.

According to its public filings, ITT has a diversified customer base, and no single customer accounted for more than 10% of its consolidated revenues in recent years. Therefore, ITT does not publicly disclose a list of specific "major customer companies" by name that represent a significant concentration of its sales.

Instead, ITT serves a broad array of customers, which can be categorized by the industries and applications for its products:

• Automotive, Rail, and Aerospace & Defense Manufacturers: ITT's Motion Technologies segment supplies friction materials, brake pads, and shock absorbers, primarily to automotive original equipment manufacturers (OEMs), Tier 1 suppliers, and aftermarket distributors. Its Connect & Control Technologies segment provides connectors, actuators, and composite structures to aerospace and defense manufacturers.
  Examples of public companies in these sectors (these are illustrative of the types of customers ITT serves and not necessarily confirmed direct major customers):
  • Ford Motor Company (F)
  • General Motors (GM)
  • Stellantis N.V. (STLA)
  • The Boeing Company (BA)
  • Lockheed Martin Corporation (LMT)
• Oil & Gas, Mining, Chemical, and Power Generation Companies: The Industrial Process segment provides industrial pumps, valves, and aftermarket services to a wide range of customers in these heavy industrial markets. This often includes engineering, procurement, and construction (EPC) firms, as well as the operators of plants and facilities.
  Examples of public companies in these sectors (these are illustrative of the types of customers ITT serves and not necessarily confirmed direct major customers):
  • Exxon Mobil Corporation (XOM)
  • Chevron Corporation (CVX)
  • Rio Tinto Group (RIO)
  • Duke Energy Corporation (DUK)
  • The Dow Chemical Company (DOW)
• General Industrial and Medical Equipment Manufacturers: The Connect & Control Technologies segment also serves a variety of industrial and medical equipment manufacturers with specialized connectors and other solutions.
  Examples of public companies in these sectors (these are illustrative of the types of customers ITT serves and not necessarily confirmed direct major customers):
  • General Electric Company (GE)
  • Siemens AG (SIEGY)

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Luca Savi, Chief Executive Officer and President

Luca Savi joined ITT in 2011 as President of the company's Motion Technologies business, and later served as President and Chief Operating Officer before becoming CEO. Prior to ITT, Mr. Savi held several key leadership roles at Comau, a subsidiary of the Fiat Group, in Italy, China, and the United States, where he developed an innovative diversification strategy for the organization in North America. He also held senior roles at Honeywell International, Royal Dutch Shell, and Ferruzzi-Montedison Group. He serves on the board of directors of MSA Safety Inc.

Emmanuel Caprais, Senior Vice President and Chief Financial Officer

Emmanuel Caprais was appointed Senior Vice President and Chief Financial Officer of ITT Inc. in October 2020. He joined ITT in 2012, serving as segment Chief Financial Officer for the Motion Technologies and later Industrial Process businesses. Before joining ITT, Mr. Caprais held finance leadership roles at Magneti Marelli and Valeo in Europe and North America.

Lori Marino, Senior Vice President, Chief Legal Officer, Secretary & Chief Compliance Officer

Lori Marino returned to ITT in January 2023 as Senior Vice President, Chief Legal Officer, Secretary & Chief Compliance Officer. She previously served as Deputy General Counsel and Corporate Secretary at ITT for six years starting in 2013. Prior to that, she was Executive Vice President, General Counsel, and Corporate Secretary at New Senior Investment Group Inc. Earlier in her career, she was Vice President and Assistant General Counsel at Medco Health Solutions, where she was the lead transactional attorney on the negotiation and sale of that company in 2012.

Bartek Makowiecki, Senior Vice President, Chief Strategy Officer and President, Industrial Process

Bartek Makowiecki serves as Senior Vice President, Chief Strategy Officer and President, Industrial Process at ITT.

Davide Barbon, Senior Vice President and President, Motion Technologies and Asia Pacific

Davide Barbon holds the position of Senior Vice President and President, Motion Technologies and Asia Pacific at ITT Inc.

The key risks to ITT Inc.'s business are primarily driven by global macroeconomic conditions, operational dependencies, and regulatory compliance.

1. Exposure to Global Economic Fluctuations and Geopolitical Tensions: ITT's global operations make it susceptible to volatile foreign currency exchange rates, impacting revenues and profitability. The company also faces risks from geopolitical tensions, trade disputes, inflation, shifts in monetary policies, and the potential for economic recessions, all of which can reduce demand for its products and services.
2. Operational Risks and Supply Chain Vulnerabilities: As a company operating in industries requiring high-quality manufacturing and timely product delivery, ITT is vulnerable to disruptions. This includes quality control issues, interruptions in the supply chain, and reliance on specific raw materials. Volatility in commodity prices can also significantly impact the company's cost structure and margins.
3. Regulatory and Environmental Challenges: ITT is subject to a complex and evolving regulatory landscape, particularly concerning environmental, health, and safety regulations. Ensuring compliance demands substantial resources and can affect operations and cost structure. Furthermore, the company navigates risks related to environmental liabilities and the potential for increased regulations concerning climate change and sustainability.

The global automotive industry's accelerating transition to electric vehicles (EVs) poses a significant emerging threat to ITT's Motion Technologies segment. EVs, through their widespread adoption of regenerative braking systems, substantially reduce the wear and tear on traditional friction brake pads compared to internal combustion engine vehicles. This shift is projected to decrease the demand for replacement brake pads in the automotive aftermarket, directly impacting ITT's established revenue streams from this product category.

ITT Inc. operates across three primary business segments: Industrial Process, Motion Technologies, and Connect and Control Technologies, each serving diverse global markets with specialized products and services. The addressable markets for these main product categories are detailed below:

Industrial Process

• Industrial Pumps: The global industrial pumps market was estimated at USD 48.2 billion in 2025.
• Industrial Valves (including Specialty Valves and Flow Control Solutions): The global industrial valves market was valued at USD 65 billion in 2021 and is projected to reach USD 110.5 billion by 2031. The global specialty valves market alone was valued at USD 7.2 billion in 2024.
• Water and Wastewater Treatment Equipment (components within): The global water and wastewater treatment equipment market was estimated at USD 68.12 billion in 2024.

Motion Technologies

• Automotive Braking Systems (including Brake Pads and Friction Materials): The global automotive braking system market size was estimated at USD 53.40 billion in 2024 and is predicted to reach approximately USD 92.97 billion by 2034. Another estimate values the global automotive brake system market at approximately USD 45.8 billion in 2025, reaching USD 66.6 billion by 2032.
• Automotive Aftermarket (including Shock Absorbers and Damping Solutions): The global automotive aftermarket market size is calculated at USD 860.08 billion in 2025 and is forecasted to reach around USD 1,419.23 billion by 2034.

Connect and Control Technologies

• Aerospace and Defense Connectors: The global aerospace & defense connectors market was valued at approximately USD 7.5 billion in 2024 and is projected to reach USD 12.8 billion by 2033.
• Energy Absorption Components: The global energy-absorbing materials market size was valued at USD 6.5 billion in 2024 and is projected to expand to USD 12.1 billion by 2032.

1. Organic Growth from Market Share Gains and Pricing Actions: ITT anticipates continued organic revenue growth driven by gaining market share, particularly in its Motion Technologies segment through friction and rail applications. The Industrial Process segment is expected to benefit from short-cycle demand, while the Connect & Control Technologies segment will see growth from connectors. Strategic pricing actions and improved productivity across all segments are also expected to contribute to revenue expansion.
2. Strategic Acquisitions in High-Growth, High-Margin Businesses: A significant driver of ITT's future revenue growth will be its strategy of pursuing accretive mergers and acquisitions (M&A). The recent acquisitions of Svanehøj (cryogenic pump manufacturer) and kSARIA (defense interconnect specialist) are expected to bolster ITT's presence in higher-growth and higher-margin flow and connectors businesses. The company plans to deploy between $500 million and $700 million annually towards strategic acquisitions to further expand its market presence and product offerings.
3. Expansion in Key End Markets: ITT is focusing on fast-growing end markets, including flow, aerospace and defense, energy, and transportation. Specifically, growth in pump project awards within the Industrial Process segment, defense share gains and increased demand for connectors in the Connect & Control Technologies segment, and strength in friction original equipment and rail demand in the Motion Technologies segment are expected to drive revenue.
4. Innovation and New Product Development: ITT emphasizes innovation as a strategic priority to meet evolving customer needs and expand into emerging markets. This includes the development of innovative products that assist customers in achieving their sustainability goals. The company's commitment to innovation is expected to drive new product development, thereby contributing to future revenue growth.

Share Repurchases

• In October 2023, ITT's board authorized a new $1 billion share repurchase program with an indefinite term, which would commence upon the expiration of a previous $500 million authorization.
• Since 2019, ITT has utilized over $500 million for share repurchases, contributing to a reduction of more than 6% in the weighted-average outstanding share count.
• The company's annual share buybacks totaled $245.3 million in 2022, $60 million in 2023, and $104.5 million in 2024.

Outbound Investments

• ITT acquired kSARIA in August 2024 and SVANEHØJ in November 2023, aligning with its strategy to pursue impactful mergers and acquisitions in high-growth and profitable sectors.
• In May 2023, the company acquired Micro-Mode Products, Inc. for $80 million, aiming to enhance its product portfolio for defense programs and expand its North American connectors platform.
• ITT divested two non-core product lines in 2023 and sold Wolverine Advanced Materials in July 2024 as part of its efforts to streamline its portfolio.

Capital Expenditures

• ITT's capital expenditures amounted to $99.8 million in 2021, $127.3 million in 2022, and $128.8 million in 2023.
• For the first six months of 2025, capital expenditures totaled $53.2 million.
• The company anticipates reducing future capital expenditures through innovations such as the development of a new geopolymer for brake pad manufacturing.