ITT Inc.'s stock plummeted 5.28% in intraday trading on Thursday despite reporting better-than-expected fourth-quarter earnings. The company's shares fell sharply even as it reported adjusted earnings per share of $1.50, surpassing Wall Street's expectations of $1.47.

The Connecticut-based industrial conglomerate posted revenue of $929 million for the quarter, also topping analyst estimates of $926.8 million. However, investors seemingly reacted negatively to the company's full-year earnings guidance, which fell short of expectations.

ITT Inc. forecasted full-year earnings in the range of $6.10 to $6.50 per share, while analysts had projected higher earnings for the year. The company's cautious outlook, coupled with broader market concerns, may have contributed to the stock's sharp decline on Thursday.