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 and nine months ended October 3, 2026 increased by $380.4 and $1,021.2, respectively, primarily due to acquisition contributions of $357.3 and $868.3, respectively. Organic revenue for the three and nine month periods increased by $23.0, or 6.0%, and $137.4, or 12.8%, respectively, primarily reflecting continued growth in pump projects, including strength in the marine and energy markets, and in valves driven by strength in the biopharmaceutical market.

Motion Technologies

MT revenue for the three and nine months ended October 3, 2026 increased $8.1 and $79.4, respectively, including favorable foreign currency translation of $1.7 and $48.8, respectively. Organic revenue increased by $6.4, or 1.8%, and $30.6, or 2.9%, for the three and nine month periods, respectively, primarily due to growth in both Friction OEM and aftermarket reflecting strength within the European region, and from strength in KONI defense market applications.

Connect & Control Technologies

CCT revenue for the three and nine months ended October 3, 2026 increased $54.7 and $142.3, respectively, reflecting benefits of pricing actions and higher demand across the industrial connectors, aerospace and defense markets. Organic revenue grew 18.6% and 17.8% for the three and nine-month periods, respectively.

GROSS PROFIT

Gross profit for the three and nine months ended October 3, 2026 increased 53.4% to $550.4 and 44.2% to $1,489.3, respectively. The increase in gross profit for both periods was primarily driven by the acquisition of SPX FLOW, volume leverage, benefits from pricing actions, and net savings from productivity and sourcing initiatives, partially offset by unfavorable sales mix. In addition, the nine-month period was impacted by an unfavorable foreign currency translation of $17.9.

OPERATING EXPENSES

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

General and administrative (G&A) expenses increased $49.4, or 55.1%, and $176.7, or 67.9%, respectively, for the three and nine months ended October 3, 2026, primarily driven by SPX FLOW G&A costs, and higher personnel-related costs. The increase for the nine-month period includes $49.2 of transaction-related costs associated with the SPX FLOW acquisition.

Sales and marketing expenses increased by $36.6, or 70.7%, and $98.6, or 65.3%, respectively, for the three and nine months ended October 3, 2026. The increase was primarily driven by the acquisition of SPX FLOW and higher personnel costs and commission expenses.

Research and development (R&D) expenses increased $8.6, or 32.6%, and $25.0, or 31.6%, respectively, for the three and nine months ended October 3, 2026. The increase was primarily due to the acquisition of SPX FLOW and the timing of R&D project activity and reimbursements.

Intangible amortization expenses increased $50.1, or 451.4%, and $113.8, or 310.1%, for the three and nine months ended October 3, 2026, respectively, due to the amortization of intangible assets acquired in connection with the acquisition of SPX FLOW and Aerospace Contacts.

OPERATING INCOME

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

FT operating income for the three and nine months ended October 3, 2026 increased $22.6, or 27.5%, and $27.5, or 12.4%, respectively, as a result of higher sales volume, benefits from pricing actions, supply chain and productivity initiatives, and SPX FLOW performance, partially offset by higher restructuring costs.

MT operating income increased $5.2, or 7.4%, and $31.9, or 15.3%,for the three and nine months ended October 3, 2026, primarily due to higher sales volume, net savings from supply chain and productivity initiatives, and a favorable impact from foreign currency fluctuations, partially offset by competitive pricing dynamics.

CCT operating income for the three and nine months ended October 3, 2026 increased $18.1, or 39.2%, and $47.3, or 37.2%, respectively, primarily driven by benefits from higher sales volume, pricing actions, and net savings from supply chain and productivity initiatives.

Other corporate costs decreased $1.1 and increased $64.1 for the three and nine months ended October 3, 2026, respectively. The decrease during the three-month period was due the timing of incentive compensation accruals, partially offset by higher restructuring and recruiting expenses. The increase during the nine-month period was primarily driven by transaction-related costs incurred in connection with the closing of the SPX FLOW acquisition.

INTEREST AND NON-OPERATING EXPENSES, NET

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

Interest expense for the three and nine months ended October 3, 2026 increased by $33.3, or 284.6%, and $85.8, or 255.4%, respectively, 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 for the three and nine months ended October 3, 2026 increased by $1.8, or 120.0%, and $11.9, or 212.5%, respectively, due to growth from SPX FLOW and a benefit from higher average cash on deposit balance during the first quarter of 2026 subsequent to the $1.3 billion equity issuance in December 2025 and until the closing of the SPX FLOW acquisition.

Other non-operating income, net for the three and nine months ended October 3, 2026 decreased by $1.7 and increased $0.6, respectively. The decrease for the three-month period was due to a prior year gain on sale of an equity method investment. Additionally, the nine-month period increase resulted from 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 ETR for the three and nine months ended October 3, 2026 increased to 33.2% and 35.5%, respectively, primarily due to the recognition of additional tax expense related to undistributed foreign earnings and withholding taxes on distributions of foreign earnings. The SPX FLOW acquisition also affected the geographic mix of earnings, which further contributed to the higher ETR for both periods, which was partially offset by related foreign tax credit benefits. The increase in the ETR for the nine-month period was further impacted by amended tax filings in Luxembourg, as well as transaction-related costs incurred in connection with the SPX FLOW acquisition.

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 October 3, 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.