ITT Inc Q4 2020 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 wanted to talk a little bit about inflation and price costs. We're obviously seeing steel prices here go up pretty steeply. And historically, that has caused a few issues on the margin side, particularly in Mt, where I understand that a lot of your contracts there are fixed price. So you can protect your intellectual property, can you talk about what your expectations are for price cost there, particularly in MT, but also in IP.

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : Okay. I wanted to follow-up with just some questions around your plans on footprint reduction, supply chain. I know you've made some changes to the footprint and probably don't want to be too specific about the ones to come, but maybe any commentary on that. And also supply chain, I know you guys have talked about having far too many suppliers. Where are you in the process of rationalizing the number of suppliers and leveraging the amount of spend with each supplier?

Question: Nathan Hardie Jones - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst : Is there a specific target you have for supply chain savings maybe on an annual basis over the next few years?