ITT INC.

REVENUE

The following table illustrates the revenue derived from each of our segments.

(a)See the section titled “Key Performance Indicators and Non-GAAP Measures” for a definition and reconciliation of organic revenue.

Flow Technologies

FT revenue for the three months ended April 4, 2026 increased $204.1, including $151.4 from acquisition activity and $12.1 from favorable foreign currency translation. Organic revenue increased 12.2%, or $40.6, primarily reflecting growth in project pumps of 16% and short-cycle of 10%, including a strong execution from Svanehøj and valves.

Motion Technologies

MT revenue for the three months ended April 4, 2026 increased $51.1, including $32.8 from favorable foreign currency translation. Organic revenue increased 5.3%, or $18.3, primarily reflecting growth from Friction original equipment and aftermarket, as well as strength from KONI rail.

Connect & Control Technologies

CCT revenue for the three months ended April 4, 2026 increased 18.7%, or $43.8, driven by growth in both connectors and components and across end markets, with particular strength within commercial aerospace and industrial, and benefits from pricing actions. Organic revenue for the period increased 17.5%.

GROSS PROFIT

Gross profit for the three months ended April 4, 2026 increased 32.7% to $428.8. The increase in gross profit was primarily driven by the acquisition of SPX FLOW, volume leverage and benefits from pricing actions and net savings from productivity and sourcing initiatives, partially offset by unfavorable sales mix and higher freight costs.

OPERATING EXPENSES

The following table summarizes our operating expenses, including by segment.

General and administ rative (G&A) expenses increased 81.1%, or $69.0, driven by higher acquisition-related expenses of $53.1, increased restructuring expenses of $4.3, unfavorable foreign currency impacts of approximately $4.0, and higher personnel-related costs of $4.1.

Sales and marketing expenses increased 53.9%, or $25.8, primarily driven by the acquisition of SPX FLOW and higher personnel and commissions expenses.

Research and development expenses increased 30.8%, or $7.8, primarily due to the acquisition of SPX FLOW and timing of customer-funded R&D project activity.

Intangible amortization increased 90.7%, or $12.7 primarily due to the amortization of backlog and customer relationship intangible assets acquired in connection with the purchase of SPX FLOW.

OPERATING INCOME

The following table summarizes our operating income and margin by segment.

FT operating income increased 29.3%, or $18.6, primarily driven by higher sales volume, benefits from pricing actions, and net savings from productivity and sourcing initiatives. Operating income growth was partially offset by increased intangible amortization of $16.1, unfavorable sales mix, and higher restructuring and bad debt expense.

MT operating income increased 23.4%, or $15.8, primarily due to higher sales volume, net savings from productivity and sourcing initiatives, and a favorable impact from foreign currency fluctuations, partially offset by competitive pricing dynamics.

CCT operating income increased 36.7%, or $13.2, primarily driven by benefits from higher sales volume and pricing actions, partially offset by higher material costs and R&D expenses.

Other corporate costs increased $57.3, primarily due to acquisition-related professional service costs and increased restructuring expenses.

INTEREST AND NON-OPERATING EXPENSES, NET

The following table summarizes our interest and non-operating income and expenses.

Interest expense increased 165.6%, or $15.4, due to higher outstanding long-term debt and commercial paper balances during 2026 primarily stemming from the financing of the SPX FLOW acquisition. Interest income increased 511.8%, or $8.7, due to a higher average cash on deposit balance during 2026 subsequent to the $1.3 billion equity issuance in December 2025 and until the closing of SPX FLOW acquisition. Other non-operating income, net increased 90.0%, or $0.9, primarily due to a gain on the early extinguishment of debt.

INCOME TAX EXPENSE

The following table summarizes our income tax expense and effective tax rate (ETR).

The effective tax rate for the three months ended April 4, 2026 increased to 38.3% primarily due to the recognition of additional tax expense related to undistributed foreign earnings, transaction-related costs incurred in connection with the acquisition of SPX FLOW, and the impact of amended tax filings in Luxembourg. In addition, the acquisition affected the geographic mix of earnings which further contributed to the higher effective tax rate for the period.

In October 2021, more than 135 countries and jurisdictions agreed to participate in a “two-pillar” international tax approach developed by the OECD, which includes establishing a global minimum corporate tax rate of 15 percent. The OECD published Tax Challenges Arising from the Digitalisation of the Economy — Global Anti-Base Erosion Model Rules (Pillar Two) in December 2021 and subsequently issued additional commentary and administrative guidance clarifying several aspects of the model rules. Since the model rules have been released, many countries have enacted Pillar Two-related laws, many of which became effective January 1, 2024 with additional laws effective January 1, 2025. As of April 4, 2026, the Company does not expect Pillar Two taxes to have a significant impact on its 2026 financial statements.

On January 5, 2026, the OECD released a Pillar Two Administrative Guidance package containing the Side-by-Side Safe Harbor (the SbS). Under the SbS, Multinational Enterprises headquartered in a jurisdiction that has a Qualified SbS Regime are eligible for the SbS election. The United States is listed as a jurisdiction with a Qualified SbS Regime. By making the SbS election, top-up taxes under the Income Inclusion Rule (the IIR) and Undertaxed Profits Rule (the UTPR) are set to zero. However, the SbS does not have an impact on the application of Pillar Two Qualified Domestic Minimum Top-up Taxes (the QDMTT). Jurisdictions are required to implement the SbS effective for fiscal years beginning on or after January 1, 2026 (or at the earliest practicable date where there are constitutional or other superior law constraints preventing retroactive adoption). ITT will monitor the adoption of SbS in each jurisdiction and intends to elect the SbS where available.

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA), which includes a broad range of tax reform provisions affecting businesses, including extending and modifying certain key Tax Cuts & Jobs Act provisions (both domestic and international) and expanding certain Inflation Reduction Act incentives while accelerating the phase-out of others. The Company evaluated the OBBBA and implemented certain provisions of the legislation during the current quarter; the Company continues to evaluate the ongoing effects of the legislation.

See Note 6, Income Taxes, to the Consolidated Condensed Financial Statements for further information.