Core Insights - Ingersoll Rand reported revenue of $1.81 billion for the quarter ended June 2024, reflecting a 7% increase year-over-year [1] - The company's EPS was $0.83, up from $0.68 in the same quarter last year, exceeding the consensus estimate of $0.77 by 7.79% [1] - The revenue surpassed the Zacks Consensus Estimate of $1.78 billion, resulting in a surprise of 1.31% [1] Revenue Performance - Precision and Science Technologies revenue was $1.47 billion, compared to the average estimate of $1.45 billion, marking a 6.4% year-over-year increase [3] - Industrial Technologies and Services revenue was reported at $436.20 million, exceeding the average estimate of $415.92 million [3] Adjusted EBITDA - Adjusted EBITDA for Precision & Science Technologies was $102.50 million, surpassing the estimated $92.95 million [3] - Adjusted EBITDA for Industrial Technologies & Services was $338.80 million, compared to the average estimate of $312.11 million, representing a 10% year-over-year increase [3] Stock Performance - Ingersoll Rand shares returned +9.1% over the past month, while the Zacks S&P 500 composite experienced a -0.4% change [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [2]

Ingersoll Rand (IR) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.79%. A quarter ago, it was expected that this maker of flow control and compression equipment would post earnings of $0.69 per share when it actually produced earnings of $0.78, delivering a surprise of 13.04%.Over ...

Ingersoll Rand Reports Record Second Quarter 2024 Revenue, Adjusted EBITDA, and Adjusted EPS Performance Raises Guidance for Total Company Revenue, Adjusted EBITDA, and Adjusted EPS Second Quarter 2024 Highlights (All comparisons against the second quarter of 2023 unless otherwise noted.) Strong performance driven by its competitive differentiator - Ingersoll Rand Execution Excellence (IRX): • Second quarter orders of $1,799 million, up 4%, or down 1% organic ◦ On a two-year stack, up 12%, or up 3% organic ...

Core Insights - Ingersoll Rand Inc. reported record second quarter revenues, Adjusted EBITDA, and Adjusted EPS, driven by its Execution Excellence (IRX) model, despite macroeconomic headwinds [2][8] - The company raised its full-year 2024 guidance for total revenue growth to a range of 6% to 8%, Adjusted EBITDA to $2,010 to $2,060 million, and Adjusted EPS to $3.27 to $3.37 [2][8] Financial Performance - Second quarter orders reached $1,799 million, a 4% increase, while revenues were reported at $1,805 million, up 7% [1][2] - Adjusted EBITDA for the second quarter was $495 million, reflecting a 16% increase year-over-year, with a margin of 27.4% [1][2] - The company generated $305 million in operating cash flow and $283 million in free cash flow, marking a 39% increase [1][5] Segment Performance - The Industrial Technologies and Services Segment reported orders of $1,465 million, up 1%, and revenues of $1,467 million, up 6% [3] - The Precision and Science Technologies Segment saw orders of $334 million, up 14%, and revenues of $339 million, up 10% [4] Balance Sheet and Cash Flow - Ingersoll Rand maintained a strong liquidity position with $3.7 billion available, including $1.1 billion in cash [5][6] - The company reported a net debt to Adjusted EBITDA leverage of 2.0x, an increase driven by the acquisition of ILC Dover [5][6] M&A Activity - Ingersoll Rand completed multiple acquisitions in the second quarter, including ILC Dover and Complete Air and Power Solutions, totaling $2.6 billion [6][8] - The recent M&A activity contributed to the raised revenue guidance for 2024, despite some offset from foreign exchange impacts and reduced organic growth expectations [8][9]

Raises Guidance for Total Company Revenue, Adjusted EBITDA, and Adjusted EPS Second Quarter 2024 Highlights (All comparisons against the second quarter of 2023 unless otherwise noted.) Strong performance driven by its competitive differentiator - Ingersoll Rand Execution Excellence (IRX): Second quarter orders of $1,799 million, up 4%, or down 1% organic On a two-year stack, up 12%, or up 3% organic Reported second quarter revenues of $1,805 million, up 7%, or up 1% organic1 On a two-year stack, up 24%, or ...

DAVIDSON, N.C., July 26, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and life science and industrial solutions, declared today a regular quarterly cash dividend of $0.02 (two cents) per share of common stock payable on September 5, 2024, to stockholders of record on August 15, 2024. About Ingersoll Rand Inc.Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making ...

DAVIDSON, N.C., July 10, 2024 (GLOBE NEWSWIRE) -- Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and life science and industrial solutions, will issue its second quarter 2024 earnings release after the market closes on Wednesday, July 31, 2024. Ingersoll Rand will also host a live earnings conference call to discuss the second quarter results on Thursday, August 1, 2024, at 8 a.m. Eastern Daylight Time. To participate in the call, please dial +1-888-330-3073, domesticall ...

Ingersoll Rand Inc. (IR) is poised to gain from the solid momentum in its businesses, strong product portfolio, strategic acquisitions and a sound capital-deployment strategy. The company remains focused on investing in growth opportunities and strengthening its long-term market position.This Zacks Rank #2 (Buy) company has a market capitalization of $37 billion. In the past year, the stock has risen 38.5% compared with the industry’s 11.7% growth.Image Source: Zacks Investment ResearchLet’s delve into the ...

Core Insights - Ingersoll Rand Inc. has released its 2023 Sustainability Report, emphasizing its commitment to sustainability through its strategic imperatives of Grow Sustainably and Operate Sustainably [1][2] Grow Sustainably - The company employed a Design for Sustainability (DfS) process for all new product development, launching 80 new innovative products in 2023 [3] - 66% of the product portfolio features sustainable attributes, with expectations that products with sustainable attributes will account for over 25% of total revenue by 2030 [3] - Ingersoll Rand continues to support customers in high-growth, sustainable end markets such as clean energy, food, life sciences, and water [3] Operate Sustainably - The company prioritized employee safety, surpassing the industry average by 73%, with a total recordable incident rate approaching world-class levels [4][10] - More than 1,800 employees have been granted equity through the Ownership Works program, increasing the total number of employees receiving grants to over 23,000 since May 2017 [4] - Ingersoll Rand powers 45 sites worldwide with renewable energy and achieved its water reduction goal seven years ahead of the 2030 target [4] - The company has been recognized on the "A List" by CDP and included in the Dow Jones Sustainability Indices for its leadership in sustainability practices [4] Future Goals - Ingersoll Rand has set a new operational goal to reduce absolute water usage by 30% in water-stressed sites by 2030 [4] - By 2040, the company aims to help customers reduce or avoid 1 billion metric tons of carbon dioxide equivalent (CO2e) in their Scope 2 emissions through its products and services [4]

Core Viewpoint - Ingersoll Rand Inc. has released its 2023 Sustainability Report, highlighting its commitment to sustainability through innovative practices and operational excellence aimed at creating a better future [1][2]. Group 1: Grow Sustainably - The company employed a Design for Sustainability (DfS) process for all new product development, launching 80 new innovative products in 2023 [3]. - 66% of the product portfolio features sustainable attributes, with expectations that products with sustainable attributes will account for over 25% of total revenue by 2030 [3]. - Ingersoll Rand continues to support customers in high-growth, sustainable end markets such as clean energy, food, life sciences, and water [3]. Group 2: Operate Sustainably - The company prioritized employee safety, surpassing the industry average by 73%, with a total recordable incident rate (TRIR) of 0.69, approaching world-class standards [4][10]. - More than 1,800 employees have been granted equity through the Ownership Works program, increasing the total number of employees receiving grants to over 23,000 since May 2017 [4]. - Ingersoll Rand powers 45 sites worldwide with renewable energy and achieved its water reduction goal seven years ahead of the 2030 target [4]. - The company has been recognized on the "A List" by CDP and included in the Dow Jones Sustainability Indices for its leadership in sustainability practices [4]. Group 3: Future Goals - The company has set a new operational goal to reduce absolute water usage by 30% in water-stressed sites by 2030 [4]. - By 2040, Ingersoll Rand aims to help customers reduce or avoid 1 billion metric tons of carbon dioxide equivalent (CO2e) in their Scope 2 emissions through its products and services [4].