Latest news with #Svanehøj
Business Wire
15-07-2025
- Business
- Business Wire
ITT's Svanehøj Awarded Contract for Deepwell Fuel and Cargo Pumps on Next-Generation Ultra Large Ethane Carriers
STAMFORD, Conn.--(BUSINESS WIRE)-- ITT) today announced that its Svanehøj business, a leading designer and manufacturer of specialized cryogenic pumps and aftermarket services for the marine sector, has secured its first agreement to provide flow technology on next-generation Ultra Large Ethane Carriers (ULECs). Under the agreement, Svanehøj will deliver deepwell fuel, cargo and stripping pumps for two ULECs, each with a carrying capacity of 40 million gallons, beginning in early 2026 for a leading European maritime customer. Ethane, a critical component in energy and petrochemical production processes, is transported in liquefied form at low temperatures to reduce its volume for shipping over long distances. Svanehøj's highly engineered pump solutions have become the marine industry standard for moving ethane because electrical components are placed outside the tank, simplifying access for maintenance and repair. ULECs are the third generation of large-scale ethane carriers, outperforming older vessels while providing multi-gas transport for greater operational flexibility. This award follows the company's successful expansion into the ethane carrier segment beginning in 2019. Since then, Svanehøj has won multiple awards on second-generation ethane carriers, known as Very Large Ethane Carriers (VLECs), and today all VLECs operating globally are equipped with Svanehøj deepwell pumps. 'For nearly 100 years, Svanehøj has led the way with innovative flow technology for the marine sector, operating reliably in the harshest conditions imaginable. This performance has driven our leading market positions across multiple product categories. And now, after demonstrating wide adoption of Svanehøj pumps on earlier ethane carriers, we are advancing our position on ULECs. Once again, ITT's differentiated product portfolio is equipped to meet growing demand for alternative fuels. We expect this to further the robust orders and sales growth Svanehøj has delivered over the last two years,' said Svanehøj's Chief Executive Officer Søren Kringelholt. Svanehøj has also recently secured several other high-profile commercial awards, including fuel pumps deployed in a major offshore natural gas development in the Black Sea region and four underground installations in the Asian Liquefied Petroleum Gas (LPG) market. Read more about these wins and others by visiting About Svanehøj Svanehøj is a provider of pumps and aftermarket service with leading positions in cryogenic applications for the marine sector. Its products manage critical liquids and are widely regarded as the highest quality offering across multiple verticals. Founded in 1928, Svanehøj employs ~400 highly skilled professionals and has operations in Denmark, Singapore and France. The company generated ~$160 million in sales in 2024. Svanehøj is a part of ITT's Industrial Process (IP) segment, a global leader in flow focused on highly engineered pumps, valves and aftermarket services. IP generated ~$1.4 billion in revenue in 2024. About ITT ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in Stamford, Connecticut, with employees in more than 35 countries and sales in approximately 125 countries. For more information, visit ITT-O
Yahoo
09-07-2025
- Business
- Yahoo
Svanehøj launches NCM Engine Room Pump series for ships
Svanehøj, a provider of marine pump solutions, has launched the NCM Engine Room Pump series, designed to enhance liquid handling efficiency on ships. The new series feature a compact and lightweight design, reducing weight by up to 15% compared to existing room pumps. Once fully rolled out, the NCM series will offer a capacity range of up to 1,500m³ and pressures of up to 12 bar, with just 16 pump variants, simplifying engine room design and planning. With fewer components and only one wear part—the mechanical seal—the NCM pumps simplify assembly, disassembly, and maintenance, thereby improving operational efficiency and reliability, stated the company. For many years, Svanehøj has been designing and producing a wide range of engine room pumps tailored for the marine, naval, and offshore industries. The NCM Series design is claimed to minimise the need for spare parts and ensures consistent performance, leading to fewer operational interruptions. Additionally, the reduced weight and maintenance requirements contribute to a lower environmental impact and better working conditions for ship crews, according to the company. Svanehøj Singapore managing director Morten Christian Larsen said: 'With the NCM pump series, we're introducing the marine market's lightest, most efficient, and most compact engine room pump. 'By simplifying our design and product portfolio, we offer a range of engine room pumps with broader duty point spans that are highly competitive in terms of price, durability, and performance.' Svanehøj's comprehensive portfolio also includes specialised deepwell and submerged marine pumps for fuel systems, cargo handling, and offshore operations, as well as complete pump room systems, fire water pump packages, and advanced tank gauging systems for LNG and LPG storage. The company further supports the industry with inspection, servicing, and calibration for cargo equipment on gas carriers and chemical tankers. "Svanehøj launches NCM Engine Room Pump series for ships" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
25-06-2025
- Automotive
- Yahoo
ITT Stock Exhibits Strong Prospects Despite Persisting Headwinds
ITT Corporation ITT is poised to gain from strength across its segments. The Industrial Process (IP) segment is benefiting from solid momentum in the short-cycle business within the energy and industrial markets. Growth in demand for parts, services and valves is aiding the segment. The acquisition of Svanehøj also bodes well for the IP segment. An increase in component and connector sales within the defense and industrial markets is supporting the Connect and Control Technologies (CCT) segment. Also, the acquisition of kSARIA augurs well for the segment. Strong demand for the company's brake components and specialized sealing solutions, shock absorbers and damping technologies in OEM and rail transportation markets is likely to drive the Motion Technologies (MT) segment's performance in the quarters solidified its product portfolio and leveraged business opportunities through asset additions. Acquisitions contributed 6.3% to the company's sales in first-quarter 2025. In September 2024, ITT acquired kSARIA Parent, Inc. The acquisition enhanced its portfolio of connectivity solutions for the defense and aerospace end markets, technological capabilities and market reach, driving growth and operational efficiency. The January 2024 acquisition of privately held Svanehøj Group A/S (Svanehøj) expanded ITT's offerings, particularly in the marine pumps market. The acquisition of Micro-Mode Products, Inc. in May 2023 boosted the company's product portfolio and customer base, specifically for long-term defense programs. It also grew its North America connectors platform, enhancing the CCT is committed to rewarding its shareholders through dividends and share repurchases. During the first quarter of 2025, the company paid out dividends of $28.7 million and repurchased shares worth $100 million. The quarterly dividend rate was hiked by 10% in February 2025. In the past year, this Zacks Rank #3 (Hold) company has gained 21.6% compared with the industry's 6% growth. Image Source: Zacks Investment Research However, the company has been dealing with the negative impact of high operating costs and expenses over time. In 2024, its cost of sales recorded a year-over-year increase of 9.6% due to rising raw material and labor costs. Also, the company's sales and marketing expenses rose 18.2% year over year in the same period due to increasing personnel and other sales-related costs. The trend continued in first-quarter 2025, with sales and marketing expenses rising 6.2% and general and administrative expenses increasing 19.3% year over its substantial international operations, foreign-currency woes are also likely to hurt its top line in the quarters ahead. For instance, in the first quarter, foreign currency translation reduced revenues by $16 million. Some better-ranked companies are discussed below:Life360, Inc. LIF currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks delivered a trailing four-quarter average earnings surprise of 425%. In the past 60 days, the Zacks Consensus Estimate for Life360's 2025 earnings has increased 20%.Federal Signal Corporation FSS currently carries a Zacks Rank #2 (Buy). FSS delivered a trailing four-quarter average earnings surprise of 6.4%.In the past 60 days, the Zacks Consensus Estimate for Federal Signal's 2025 earnings has increased 1.6%.Broadwind, Inc. BWEN presently carries a Zacks Rank of 2. The company delivered a trailing four-quarter average earnings surprise of 61.1%.In the past 60 days, the consensus estimate for BWEN's 2025 earnings has increased 14.3%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ITT Inc. (ITT) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report Broadwind Energy, Inc. (BWEN) : Free Stock Analysis Report Life360, Inc. (LIF) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
28-05-2025
- Business
- Yahoo
Here's Why Investors Should Retain ITT Stock in Portfolio Now
ITT Inc. ITT has been benefiting from strength in the short-cycle business within the energy and industrial markets. Growth in demand for parts, services and valves is aiding the Industrial Process segment. Growth in component and connector sales within the defense and industrial markets is supporting the Connect and Control Technologies demand for the company's brake components and specialized sealing solutions, shock absorbers and damping technologies in the OEM and rail transportation markets is likely to drive the Motion Technologies segment's performance in the quarters ahead. For 2025, the company expects its organic sales to increase 3-5% from the year-ago company intends to strengthen and expand its businesses through acquisitions. In September 2024, ITT acquired kSARIA Parent, Inc. The acquisition will enhance its portfolio of connectivity solutions for the defense and aerospace end markets, technological capabilities and market reach, thereby driving growth and operational in January 2024, it acquired Svanehøj for approximately $395 million. The inclusion of Svanehøj's portfolio of highly engineered flow solutions expanded its customer offerings and boosted its position in the marine pumps industry. Acquisitions contributed 6.3% to the company's sales in first-quarter remains committed to increasing shareholders' value through dividend payments and share repurchases. For instance, during the first three months of 2025, the company paid out dividends of $28.7 million and repurchased shares worth $100 million. Also, in 2024, dividend payments totaled $104.7 million and share repurchases were $104.5 million. The quarterly dividend rate was hiked by 10% in February 2025. Image Source: Zacks Investment Research In the past year, this Zacks Rank #3 (Hold) company has gained 10.5% compared with the industry's 7.7% the company has been subject to high operating costs and expenses over time. For instance, in 2024, its cost of sales recorded a year-over-year increase of 9.6% due to rising raw material and labor costs. Also, the company's sales and marketing expenses rose 18.2% year over year in the same period due to increasing personnel and other sales-related costs. The trend continued in first-quarter 2025, with the sales and marketing expenses rising 6.2% and general and administrative expenses increasing 19.3% year over its substantial international operations, foreign-currency woes are also likely to hurt its top line in the quarters ahead. For instance, in the first quarter, foreign currency translation reduced revenues by $16 million. Some better-ranked stocks from the same space are presented Inc. ATR presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks delivered a trailing four-quarter average earnings surprise of 7.3%. In the past 60 days, the consensus estimate for AptarGroup's 2025 earnings has increased 5.4%.Federal Signal Corporation FSS currently carries a Zacks Rank #2 (Buy). FSS delivered a trailing four-quarter average earnings surprise of 6.4%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal's 2025 earnings has increased 1.6%.Unifirst Corporation UNF currently carries a Zacks Rank of 2. UNF delivered a trailing four-quarter average earnings surprise of 12.3%. In the past 60 days, the consensus estimate for Unifirst's fiscal 2025 (ending August 2025) earnings has increased 4.1%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ITT Inc. (ITT) : Free Stock Analysis Report Unifirst Corporation (UNF) : Free Stock Analysis Report AptarGroup, Inc. (ATR) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Automotive
- Yahoo
ITT Q1 Earnings Call: Orders, Backlog, and New Product Launches Highlight Flat Sales
Engineered components manufacturer for critical industries ITT Inc. (NYSE: ITT) beat Wall Street's revenue expectations in Q1 CY2025, but sales were flat year on year at $913 million. Its non-GAAP profit of $1.45 per share was 1% above analysts' consensus estimates. Is now the time to buy ITT? Find out in our full research report (it's free). Revenue: $913 million vs analyst estimates of $907.8 million (flat year on year, 0.6% beat) Adjusted EPS: $1.45 vs analyst estimates of $1.44 (1% beat) Adjusted EBITDA: $196.5 million vs analyst estimates of $193.4 million (21.5% margin, 1.6% beat) Management reiterated its full-year Adjusted EPS guidance of $6.30 at the midpoint Operating Margin: 16.5%, in line with the same quarter last year Free Cash Flow Margin: 8.4%, up from 3.3% in the same quarter last year Organic Revenue was flat year on year (9.5% in the same quarter last year) Market Capitalization: $11.84 billion ITT's first quarter results were shaped by a sharp rise in orders and backlog, balancing a flat year-over-year sales performance. Management highlighted continued momentum from recent acquisitions, particularly kSARIA and Svanehøj, which drove strong new project awards and contributed to a record order book. CEO Luca Savi emphasized operational execution and ongoing productivity initiatives, noting that pricing actions and cost control offset volume declines in auto and aerospace segments. Additionally, ITT generated record free cash flow as working capital improved. Looking ahead, management reiterated its adjusted EPS guidance for the year, citing confidence in margin expansion driven by price realization, productivity gains, and contributions from new products such as the VIDAR industrial motor. CFO Emmanuel Caprais acknowledged persistent macroeconomic uncertainty in the second half but stated that further actions—such as cost reductions and pricing adjustments—were already planned to address tariff-related headwinds. Savi maintained, 'We continue to expand our margin with more opportunities still to capture,' signaling a disciplined approach to execution despite a fluid environment. ITT's leadership attributed the flat sales in Q1 to market softness in auto and aerospace but pointed to strong order activity and successful integration of acquisitions as critical positives. Management focused on operational performance, margin expansion, and new product innovation as key themes impacting the quarter. Record Orders and Backlog: Orders exceeded $1 billion, supported by kSARIA and Svanehøj acquisitions, resulting in a 21% year-over-year backlog increase. Management cited large project wins, particularly in Industrial Process (IP), as evidence of market share gains and robust demand across energy and marine markets. Acquisition Performance: The kSARIA acquisition drove nearly 40% order growth in Connect & Control Technologies (CCT), while Svanehøj's marine pump orders grew 70%. These deals were highlighted as enhancing ITT's presence in defense, marine, and industrial sectors. Margin Expansion Despite Headwinds: Margins improved across all major segments, with operational productivity and price actions more than offsetting cost inflation, M&A-related dilution, and unfavorable foreign currency effects. Management emphasized that price realization, particularly in CCT, was a significant contributor. VIDAR Product Launch: The introduction of the VIDAR industrial motor—a drop-in replacement designed to improve pumping efficiency—was cited as a strategic move to enter a $6 billion addressable market, with initial customer pilots demonstrating substantial energy and cost savings. Capital Deployment and Share Buybacks: ITT repurchased $100 million in shares during Q1 and an additional $300 million after quarter-end, reducing share count by 4%. Management stated that these actions were not a function of reduced M&A opportunities but reflected confidence in future outlook and ongoing capital allocation discipline. Management's outlook for the remainder of the year centers on the execution of its order backlog, continued integration of recent acquisitions, and successful mitigation of tariff-related costs. The company's guidance assumes steady project conversion and ongoing margin expansion, with attention to external risks. Order Backlog Conversion: The large backlog in Industrial Process and CCT is expected to support revenue growth through project execution, especially in energy and marine applications, even if short-cycle order activity moderates. Tariff Mitigation and Pricing Actions: Management plans to offset $50–$60 million in anticipated tariff costs through a mix of price increases, cost controls, and sourcing flexibility. The company expects these actions to prevent a net impact on earnings, though there may be some margin timing effects. New Product and Market Expansion: The ramp-up of new products like VIDAR and further investments in regions such as Saudi Arabia and India are expected to contribute incremental growth, with management citing ongoing pilots and market share gains as supporting factors. Scott Davis (Melius Research): Asked if the surge in orders was due to customers accelerating purchases ahead of price increases; management clarified that most project orders were long in development, with no evidence of pre-buying. Mike Halloran (Baird): Sought details on the resilience of the business model and guidance bridge; management highlighted backlog strength and confidence in project execution, while acknowledging a cautious outlook for the second half. Vlad Bystricky (Citigroup): Inquired about exposure to oil price volatility in Saudi projects; management reported continued order growth and no change in customer tone, attributing success to high on-time delivery and execution. Jeff Hammond (KeyBanc): Pressed for specifics on tariff mitigation and price increases; management explained that most cost increases would be offset by commercial actions and sourcing adjustments, particularly in CCT and IP segments. Joe Ritchie (Goldman Sachs): Asked about the VIDAR launch and its integration with existing sales channels; management described VIDAR as a separate business unit with some cross-selling incentives but distinct from core pump operations. In the coming quarters, the StockStory team will focus on (1) the pace and margin quality of backlog conversion, especially in Industrial Process and CCT; (2) the effectiveness of tariff mitigation strategies and their actual versus expected impact on profitability; and (3) early customer adoption and revenue contribution from the VIDAR motor launch. Additional scrutiny will be given to the ongoing integration of recent acquisitions, as well as any signs of changing demand in end-markets such as automotive, aerospace, and energy. ITT currently trades at a forward P/E ratio of 22.9×. Should you load up, cash out, or stay put? See for yourself in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
