Ingersoll Rand (IR) Beats Q3 Earnings Estimates

Core Viewpoint - Ingersoll Rand reported quarterly earnings of $0.84 per share, exceeding the Zacks Consensus Estimate of $0.82 per share, and showing an increase from $0.77 per share a year ago, indicating a positive earnings surprise of 2.44% [1] Financial Performance - The company achieved revenues of $1.86 billion for the quarter ended September 2024, which was below the Zacks Consensus Estimate by 0.84%, but an increase from $1.74 billion year-over-year [2] - Over the last four quarters, Ingersoll has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Stock Performance - Ingersoll shares have appreciated approximately 25.8% since the beginning of the year, outperforming the S&P 500's gain of 21.9% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations for it to outperform the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.89 on revenues of $1.99 billion, and for the current fiscal year, it is $3.33 on revenues of $7.35 billion [7] - The trend of estimate revisions for Ingersoll has been favorable ahead of the earnings release, which may influence future stock movements [6] Industry Context - The Manufacturing - General Industrial industry, to which Ingersoll belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [8]