Mission Statement, Vision, & Core Values of ITT Inc. (ITT)

Ever wondered what drives a company like ITT Inc. to achieve $3.63 billion in revenue for the full year 2024, a 10.6% increase from 2023?

What are the guiding principles that helped them reach an operating income of $676 million, up 28%, with an operating margin of 18.6%? How do their mission, vision, and core values play a role in this success?

Dive in to discover how ITT's commitment to creating enduring products and services, coupled with a clear vision for key industries, shapes their path forward and fosters a culture of innovation and sustainability.

ITT Inc. (ITT) An Overview of

ITT Inc. (ITT) has a rich history dating back to 1920 when it was founded as International Telephone and Telegraph. Over the years, ITT has evolved into a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. The company operates through three primary segments: Motion Technologies (MT), Industrial Process (IP), and Connect and Control Technologies (CCT).

ITT's products and services include:

• Motion Technologies: Brake pads, shock absorbers, and other components for the automotive and rail industries.
• Industrial Process: Pumps, valves, and related equipment for the chemical, oil & gas, mining, and other industrial markets.
• Connect and Control Technologies: Connectors, switches, and other components for the aerospace, defense, industrial, and medical markets.

In 2024, ITT reported record-breaking revenue of $3.3 billion, with significant contributions from its key product lines. The company has demonstrated consistent growth in various markets, driven by strategic investments and innovative solutions.

ITT's financial performance in the latest reporting period showcases its strength and resilience in a dynamic global market. The company's record revenue of $3.3 billion in 2024 was driven by strong organic growth and strategic acquisitions. Specifically, the Motion Technologies segment experienced substantial growth due to increased demand for its braking solutions and components in both the automotive and rail sectors. The Industrial Process segment benefited from rising investments in infrastructure and industrial projects, while the Connect and Control Technologies segment saw growth in the aerospace and defense markets.

ITT's ability to achieve these results reflects its focus on innovation, operational excellence, and customer satisfaction. The company's strategic initiatives, including investments in research and development, capacity expansion, and digital transformation, have enabled it to capitalize on emerging opportunities and strengthen its competitive position.

ITT stands as a leader in its industry, driven by its mission, vision, and core values. To understand why ITT has become so successful, explore further insights into its financial health: Breaking Down ITT Inc. (ITT) Financial Health: Key Insights for Investors.

ITT Inc. (ITT) Mission Statement

ITT Inc. is a diversified manufacturer providing engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. ITT has a deep commitment to cutting-edge technology that meets the world's most critical needs. The company operates with more than 10,000 employees in over 35 countries.

ITT's mission is to create enduring products and services that underpin our modern way of life.

The significance of a mission statement lies in its ability to guide a company's long-term goals, ensuring that all activities align with the overarching purpose. For ITT Inc., this mission serves as a touchstone, uniting employees and stakeholders toward a common objective.

Core Components of ITT's Mission Statement

ITT Inc.'s mission statement encompasses several core components that drive its operations and strategic objectives:

• Enduring Products and Services: ITT is committed to creating products and services that stand the test of time, reflecting a focus on quality and reliability.
• Underpinning Modern Life: The company aims to provide essential components and solutions that support and enhance various aspects of modern living.
• Innovative Technology Solutions: ITT focuses on delivering innovative technology solutions across multiple industrial sectors with a strategic emphasis on critical infrastructure and defense technologies.

Vision Statement

ITT has a clear vision of where key industries are headed and how they can help customers reach their goals by thinking their way around obstacles, creating solutions and finding answers to complex technical and engineering challenges. ITT's customers rely on their expertise to create better products to serve their customers and at the same time increase uptime and energy efficiency in their manufacturing operations.

Core Values

ITT Inc.'s culture is defined by a set of guiding principles that underpin its operations and relationships with stakeholders:

• Service Leadership: Putting others first and helping them improve, serving all stakeholders.
• Work Ethic & Integrity: Demonstrating commitment, respect, responsibility, and integrity in all actions.
• Granularity & Data-Based Decision Making: Making decisions based on thorough analysis and reliable data.
• Passion for Renewal: Continuously seeking improvement and innovation.
• Speed & Simplicity: Acting quickly and efficiently, keeping processes simple.
• Proud & Never Satisfied: Taking pride in accomplishments while always striving for better.
• Honesty & Transparency: Maintaining open and honest communication.
• Meritocracy: Supporting fairness and inclusivity, rewarding behaviors and results based on consistently applied and transparent criteria.

Financial Performance and Strategic Achievements

ITT Inc. has demonstrated strong financial performance and strategic execution as of the end of the 2024 fiscal year. Key highlights include:

• Revenue Growth: ITT reported revenue of $3.63 billion for the full year 2024, a 10.6% increase from 2023.
• Operating Income: The company's operating income for the year was $676 million, up 28%, with an operating margin of 18.6%.
• Earnings Per Share (EPS): Full-year EPS was $6.30, a 26.8% increase, and adjusted EPS was $5.86, up 12.5%.
• Strategic Acquisitions: The acquisitions of Svanehøj and kSARIA contributed significantly to revenue growth.
• Dividend Increase: The company announced a 10% increase in its quarterly dividend to $0.351 per share.

CEO Luca Savi noted that in 2024, ITT's teams delivered on their commitments, achieving 11% total revenue growth (7% organic) and strong margin expansion, surpassing long-term margin targets ahead of schedule.

ITT Inc. operates through three key business segments:

• Industrial Process: Provides pumps, valves, and systems for critical fluid handling applications.
• Motion Technologies: Manufactures brake pads, shock absorbers, and other motion control components.
• Connect & Control Technologies: Develops engineered connectors and control components for aerospace and defense industries.

These segments allow ITT Inc. to address a variety of industry needs by leveraging advanced engineering and state-of-the-art manufacturing processes.

ITT Inc. differentiates itself through its long-standing history combined with innovative engineering approaches, addressing complex customer challenges and setting the company apart from its peers. The company’s expansive geographic footprint ensures a diversified revenue stream and enhances its ability to respond to localized market demands.

For further insights into ITT Inc.'s financial standing, consider exploring this analysis: Breaking Down ITT Inc. (ITT) Financial Health: Key Insights for Investors

ITT Inc. (ITT) Vision Statement

ITT Inc. aims to lead in industries that are fundamental to modern life. The company focuses on creating a world where its solutions enable a more sustainable future, emphasizing innovation, efficiency, and reliability. ITT's vision reflects a commitment to solving critical challenges across various sectors while prioritizing environmental and social responsibility.

Leading in Key Industries

ITT Inc. operates in several key industries, providing engineered solutions for a wide range of applications. These industries include:

• Aerospace: ITT provides critical components and solutions for commercial and military aircraft.
• Defense: ITT delivers advanced technologies for defense applications, including communication systems and electronic warfare solutions.
• Industrial: ITT offers a variety of products for industrial markets, such as pumps, valves, and shock absorbers.
• Transportation: ITT provides components and systems for the transportation industry, including brake pads and railway equipment.

In 2024, ITT reported total revenue of $3.3 billion, reflecting its strong presence and performance across these diverse sectors. The company's strategic focus on these industries allows it to leverage its engineering expertise and technological innovation to address specific market needs.

Enabling a Sustainable Future

ITT Inc. is committed to sustainability and incorporates environmentally responsible practices into its operations and product development. This commitment is evident in several initiatives:

• Energy Efficiency: ITT develops products that improve energy efficiency and reduce environmental impact.
• Water Management: ITT provides solutions for efficient water management and conservation.
• Reducing Emissions: ITT focuses on reducing greenhouse gas emissions and promoting sustainable manufacturing processes.

ITT's commitment to sustainability is not only environmentally responsible but also economically beneficial. By developing sustainable solutions, ITT can reduce its operating costs, improve its brand reputation, and attract environmentally conscious customers. As of 2024, ITT invested $45 million in research and development focused on sustainable technologies. This investment underscores the company's dedication to creating long-term value through sustainable practices.

Innovation, Efficiency, and Reliability

ITT Inc. places a strong emphasis on innovation, efficiency, and reliability in all aspects of its business. This focus is reflected in its:

• Product Development: ITT invests in research and development to create innovative products that meet the evolving needs of its customers.
• Operational Excellence: ITT strives for operational excellence to improve efficiency and reduce costs.
• Quality Assurance: ITT maintains rigorous quality control standards to ensure the reliability and performance of its products.

In 2024, ITT spent $120 million on research and development, demonstrating its commitment to innovation. The company's focus on efficiency and reliability has helped it to build a strong reputation for quality and performance, which is essential for maintaining its competitive edge in the market. ITT's dedication to these principles ensures that its products and services consistently meet the highest standards, providing customers with reliable and effective solutions.

ITT Inc. (ITT) Core Values of

At ITT Inc., a commitment to core values drives their operations and shapes their interactions with stakeholders. These values reflect ITT's dedication to not only achieving business success but also contributing positively to society and the environment. More insights about ITT can be found at: ITT Inc. (ITT): History, Ownership, Mission, How It Works & Makes Money

Safety

Safety is a paramount value at ITT, reflecting a commitment to protecting employees, customers, and communities. This involves not only preventing accidents and injuries but also promoting a culture where safety is a shared responsibility. ITT integrates safety into all aspects of its operations, from product design and manufacturing to service delivery.

• ITT demonstrates its commitment to safety through comprehensive training programs.
• ITT demonstrates its commitment to safety through adherence to strict safety protocols.
• ITT demonstrates its commitment to safety through continuous improvement initiatives.

By prioritizing safety, ITT aims to create a secure and healthy work environment, minimize risks, and ensure the well-being of all stakeholders.

Integrity

Integrity is fundamental to ITT's business philosophy, guiding ethical conduct and responsible decision-making. This value emphasizes honesty, transparency, and accountability in all interactions, both internally and externally. ITT expects its employees to uphold the highest ethical standards, comply with laws and regulations, and act in the best interests of the company and its stakeholders.

• ITT fosters a culture of integrity through clear policies and procedures.
• ITT fosters a culture of integrity through ethics training.
• ITT fosters a culture of integrity through mechanisms for reporting and addressing ethical concerns.

By upholding integrity, ITT seeks to build trust, maintain its reputation, and foster long-term relationships with customers, partners, and communities.

Respect

Respect is a core value at ITT, promoting a culture of inclusivity, diversity, and fairness. This involves valuing the contributions of all individuals, regardless of their background, and treating everyone with dignity and consideration. ITT recognizes that a diverse workforce brings different perspectives and ideas, leading to innovation and better decision-making.

• ITT demonstrates its commitment to respect through equal opportunity employment practices.
• ITT demonstrates its commitment to respect through diversity and inclusion programs.
• ITT demonstrates its commitment to respect through initiatives that promote a welcoming and supportive work environment.

By fostering respect, ITT aims to create a workplace where everyone feels valued, empowered, and able to reach their full potential.

Responsibility

Responsibility is integral to ITT's approach to business, emphasizing accountability for actions and their impact on society and the environment. This involves taking ownership of performance, meeting commitments, and striving for continuous improvement. ITT is committed to operating in a sustainable manner, minimizing its environmental footprint, and contributing to the well-being of the communities where it operates.

• ITT demonstrates its commitment to responsibility through environmental stewardship programs.
• ITT demonstrates its commitment to responsibility through social responsibility initiatives.
• ITT demonstrates its commitment to responsibility through corporate governance practices.

By embracing responsibility, ITT seeks to create long-term value for its stakeholders, protect the environment, and contribute to a more sustainable future.

Excellence

Excellence is a driving force at ITT, inspiring a pursuit of superior performance and innovation in all aspects of its business. This involves setting high standards, continuously improving processes, and delivering exceptional products and services that meet or exceed customer expectations. ITT encourages its employees to be creative, innovative, and results-oriented, fostering a culture of continuous learning and development.

• ITT demonstrates its commitment to excellence through investments in research and development.
• ITT demonstrates its commitment to excellence through employee training and development programs.
• ITT demonstrates its commitment to excellence through the implementation of best practices in all areas of its business.

By striving for excellence, ITT aims to differentiate itself in the marketplace, create competitive advantages, and deliver superior value to its customers and shareholders.