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Ingersoll (IR) Beats on Q3 Earnings and Revenues

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With a diverse portfolio of industrial and commercial products, Ingersoll-Rand Plc (IR - Free Report) is a premier player in the industrial goods market. This Dublin, Ireland-based firm has a solid foundation of global brands with a leading market share in all major product lines.

After the divestiture of the commercial and residential security businesses, IR has been diligently focusing on improving the efficiencies and capabilities of its core businesses. The company is constantly on the lookout for opportunistic acquisitions to supplement its organic growth. However, IR operates in a competitive market place, which necessitates sustained investments in R&D initiatives to stay ahead of competition, thereby increasing its costs.

With rising operating costs and adverse currency translation effects gradually shrinking margins, investors have been eagerly waiting for the company’s latest earnings report.

In the last four trailing quarters, IR has reported a positive average earnings surprise of 11.67%, beating earnings estimates on all occasions. As the intensity of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report.

Currently, IR has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below.

Earnings: IR beats on earnings. The Zacks Consensus Estimate called for EPS of $1.29, while the company reported adjusted EPS of $1.41.

Revenues: Revenues beat. IR posted revenues of $3,567.8 million, compared to the Zacks Consensus Estimate of $3,552 million.

INGERSOLL RAND Price and EPS Surprise

 

INGERSOLL RAND Price and EPS Surprise | INGERSOLL RAND Quote

Key Stats to Note: Third-quarter results demonstrate the company’s consistently strong operating performance with organic growth. IR has raised its guidance for 2016, it currently expects adjusted EPS from continuing operations to be in the range $4.17 to $4.22, compared with prior guidance of $4.00 to $4.10, while revenues are expected to rise by 1% and free cash flow is expected to be approximately $1.3 billion.

Stock Price: Share prices increased in the pre-market trading following the release at the time of this write-up on a healthy earnings beat.

Check back for our full write up on this IR earnings report later!

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