Earnings Preview: ITT Corp.

ITT Corporation (ITT) is expected to report Q4 earnings Wednesday with a conference call scheduled for 9:00 am ET.

Guidance

Analysts are looking for ITT to post Q4 EPS of 94c on revenue of $2.3B. The consensus range is 92c to 98c for EPS, and revenue range of $2.28B to $2.31B, according to First Call. In November, ITT gave guidance; the company is expecting 2007 EPS of $3.50 to $3.53 vs. consensus of $3.53 and 2007 revenue $8.75B vs. consensus of $8.77B.

Also in November, Credit Suisse upgraded ITT to Outperform from Neutral, based on recent share pullback, execution, and government spending in defense and water. A merger with EDO Corp. was completed on January 29.