Senior Vice President & Chief Financial Officer, Itt
Search every verified Emmanuel Caprais interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Emmanuel Caprais, Senior Vice President and Chief Financial Officer of ITT, participated in the TD Cowen 46th Annual Aerospace & Defense Conference in early 2025 and in a September 2024 episode of the Impact Podcast. At the conference, Caprais stated that ITT closed 2024 with $3.6 billion in revenue, beat its margin targets two years early, and delivered 12% EPS growth. He noted that the company’s backlog was up more than 30% in total and more than 8% organically, and that aerospace and defense now represents nearly 20% of the total portfolio following the acquisition of Casaria. Caprais said ITT deployed over $800 million in 2024 and aims to deploy $500–700 million annually, while remaining disciplined on acquisitions, targeting multiples around 12–13x with a roughly 15% IRR. He described a headwind for the CCT business from limited Boeing activity, which represents about $10 million in quarterly revenue, and noted that some expected large defense contracts shifted from Q4 to Q1 due to bureaucratic delays. On the Impact Podcast, Caprais discussed ITT’s sustainability initiatives, stating that the company has been working on environmental projects for five years, starting with waste reduction and energy efficiency before making larger investments. He said ITT announced a $25 million investment in solar panels for most of its facilities, accepting a five- to six-year payback period for solar projects due to energy security and cost volatility concerns. Caprais described his role as an enabler for the environmental pillar, using coalitions of employees rather than a single sustainability officer. He also mentioned that ITT has hired people recently released from prison to address labor shortages and provide second chances. Caprais shared that his international experience, including being kidnapped at gunpoint in Mexico, helped develop his resilience.
“We close 2024 with $3.6 billion in revenue.”
“Aerospace and defense is now up to almost 20% of the total portfolio with a recent acquisition of Casaria, which gives us an entry point into the cable assembly business important for defense customers.”
“We beat our margin targets in 2024 two years early and delivered 12% EPS growth.”
“Our backlog is up more than 30% in total and more than 8% organically, which speaks to the margin and share gains and incremental contribution from acquisitions.”
“For our Motion Technologies business we are essentially insulated from the China tariffs; for Industrial Process and CCT we do import components from China into the U.S., but the impact looks manageable.”
“We deployed over $800 million in 2024 and our target is to deploy between $500 and $700 million every year; we have limited debt and lots of dry powder, but money is not burning our pockets — we intend to be very disciplined and rigorous.”
“We paid multiples around 12–13x for our recent targets (Van Hoy, Casaria) and we look for transactions that can return roughly 15% IRR and a bit above 10% ROI.”
“We expected some large defense contracts in Q4 but they're happening in Q1 instead — it's puzzling because there's a real need, but bureaucracy still needs to do its work and it's slowing awards.”
“A headwind for our CCT business is Boeing: Boeing represents about $10 million of revenue per quarter for us, so limited Boeing activity will reduce near-term revenue.”
“For established platforms like Motion Technologies we'll give them the capital they need; we're also reallocating some production equipment from Europe to China to optimize utilization.”
“We announced back in April a 25 million investment and we're going to put solar panels in the majority of our facilities. It's not because you're doing something good for the environment that you're going to convince people; the key is to lead with something that makes sense from a business standpoint.”
“Energy scarcity is going to become more and more of a challenge. Nobody can argue with the fact that the cost of energy is volatile and increasing, so green energy becomes not just a side benefit but a necessary business solution.”
“At ITT, sustainability has been a reality for the past five years. We started small by eliminating waste, increasing recycling, reducing water consumption, and improving energy efficiency before making larger investments.”
“As CFO, I can clear the way for people and be an enabler and ambassador for the environmental pillar. Having one person in charge of sustainability may not be the best use of resources; instead, we have coalitions of people doing this in addition to their jobs.”
“We publish an annual sustainability report that aggregates all the progress from our various projects. This report is shared internally and externally to communicate our impact and progress.”
Big news for ITT Inc. (NYSE: ITT)! Chief Financial Officer Emmanuel Caprais will be presenting at the TD Cowen 46th Annual ...
https://impactpodcast.com/episode/2024/01/investing-in-green-energy-opportunities-with-emmanuel-caprais-of-itt/
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