Ingersoll Rand Inc (NYSE:IR) 2024 Q2 Results Conference Call August 1, 2024 8:00 AM ET Company Participants Matthew Fort - Vice President of Investor Relations Vicente Reynal - Chairman, Chief Executive Officer Vikram Kini - Chief Financial Officer Conference Call Participants Mike Halloran - Baird Julian Mitchell - Barclays Jeff Sprague - Vertical Research Partners Rob Wertheimer - Melius Research Joe Ritchie - Goldman Sachs Andy Kaplowitz - Citigroup Stephen Volkmann - Jefferies Nigel Coe - Wolfe Research ...

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]

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 ...

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 ...