ITT Inc Q2 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : I just have a couple of follow ups, few questions that have been asked. First one on the capacity addition per MK, could you just give us a number for what capacity this is adding and over what time period you expect that to be filled up?

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : And while we're at it, I was going to ask for an update on the Smart Pad. I haven't heard an update on that for a while. Just any update you've got on the progress being made there.

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : Just one final one on the CCT destocking. Clearly, in Industrials, we've seen a lot of destocking going on, people built too much inventory in 2022. Some places you're seeing in market softening, lead times are coming down, supply chains are improving. So there's multiple inputs on why destocking is happening. Do you have any color on how much of this is being driven by the fact that lead times are getting shorter. People may be built too much inventory last year versus actual softening of underlying demand, which pretty clearly is going on in parts of Europe.