Core Insights - Ingersoll Rand Inc. reported second-quarter 2024 adjusted earnings of 83 cents per share, exceeding the Zacks Consensus Estimate of 74 cents, marking a 22.1% year-over-year increase [1] - Total revenues reached $1.80 billion, surpassing the consensus estimate of $1.78 billion, with a 7% year-over-year growth [1] - Orders totaled $1.8 billion, reflecting a 4% decline year over year, although organic orders increased by 3.6% [1] Segmental Discussion - The Industrial Technologies & Services segment generated revenues of $1.5 billion, accounting for 81.2% of net revenues, with a year-over-year increase of 6.4% [2] - The Precision & Science Technologies segment's revenues totaled $338.8 million, representing 18.8% of net revenues, with a 10% year-over-year increase [2] - Adjusted EBITDA for the Industrial Technologies & Services segment rose 15.6% year over year to $436.2 million, while the Precision & Science Technologies segment's adjusted EBITDA increased 13.9% to $102.5 million [2][3] Margin Profile - Cost of sales increased 2.3% year over year to $1.0 billion, while selling and administrative expenses rose 8.4% to $342.1 million [4] - Adjusted EBITDA increased 16.5% year over year to $494.6 million, with the margin improving to 27.4% from 25.2% in the previous year [4] Balance Sheet & Cash Flow - As of the end of the second quarter, Ingersoll Rand had cash and cash equivalents of $1.1 billion, down from $1.6 billion at the end of December 2023, with long-term debt increasing to $4.8 billion [5] - The company generated net cash of $466.5 million from operating activities, up 17% year over year, and free cash flow increased 8.8% to $382.4 million [5] 2024 Outlook - Ingersoll Rand raised its revenue growth expectation for 2024 to 6-8% year over year, up from the previous estimate of 4-6% [6] - Adjusted EBITDA is projected to be in the range of $2.01-$2.06 billion, indicating a 12-15% increase from the prior year [6] - Adjusted earnings are anticipated to be between $3.27-$3.37 per share, compared to the earlier expected range of $3.20-$3.30 [7]

For the quarter ended June 2024, Ingersoll Rand (IR) reported revenue of $1.81 billion, up 7% over the same period last year. EPS came in at $0.83, compared to $0.68 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.78 billion, representing a surprise of +1.31%. The company delivered an EPS surprise of +7.79%, with the consensus EPS estimate being $0.77.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expec ...

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 ...

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 ...

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 ...

DAVIDSON, N.C., June 27, 2024 (GLOBE NEWSWIRE) -- Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and life science and industrial solutions, has unveiled its 2023 Sustainability Report. “Leading Sustainably through execution” details the company’s commitment, action, and accomplishments related to a more sustainable future, guided by Ingersoll Rand Execution Excellence (IRX) and an ownership mindset. Sustainability is a key component of Ingersoll Rand’s purpose of Making ...