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The Zacks Consensus Estimate for the company’s third-quarter earnings has been revised downward by a penny in the past 60 days. However, the company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 12.5%.
Let’s see how things have shaped up for Ingersoll Rand this earnings season.
Strength in the medical, food and pharma businesses is likely to have driven Ingersoll Rand’s performance in the third quarter.
Benefits from the acquisitions of Westwood Technical Limited, Houdstermaatschappij Jorc and Tuthill Pump Group are expected to get reflected in IR’s top-line number. The acquisition of Westwood expanded IR’s IIoT (Industrial Internet of Things) offerings.
The Houdstermaatschappij Jorc acquisition is expected to have boosted performance of the Industrial Technologies & Services segment. The Tuthill Pump acquisition has strengthened Ingersoll Rand’s existing pumping solution offerings.
However, high raw material costs, supply-chain issues and logistics problems are expected to have impacted Ingersoll Rand’s third-quarter performance. Given IR’s substantial international presence, foreign currency headwinds are likely to have affected the top line.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Ingersoll Rand this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Ingersoll Rand has an Earnings ESP of -0.67%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ingersoll Rand currently carries a Zacks Rank #3.
Highlights of Q2 Earnings
Ingersoll Rand reported second-quarter 2022 adjusted earnings of 50 cents per share, surpassing the Zacks Consensus Estimate by 2%. Total revenues of $1,440 million outperformed the Zacks Consensus Estimate by 3.7%. Both the top and bottom lines increased year over year driven by organic revenue growth and benefits from acquisitions.
Stocks to Consider
Here are some companies within the broader Industrial Products sector that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.
AGCO Corporation (AGCO - Free Report) has an Earnings ESP Of +1.96% and a Zacks Rank #3. The company is set to release third-quarter 2022 results on Nov 1.
AGCO’s earnings surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 37.5%.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +0.81% and a Zacks Rank #3. The company is scheduled to release fourth-quarter fiscal 2022 (ended Sep 30, 2022) results on Nov 2.
Emerson’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 6%.
Image: Bigstock
Will Cost Inflation Mar Ingersoll Rand's (IR) Q3 Earnings?
Ingersoll Rand Inc. (IR - Free Report) is scheduled to release third-quarter 2022 results on Nov 2, after market close.
The Zacks Consensus Estimate for the company’s third-quarter earnings has been revised downward by a penny in the past 60 days. However, the company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 12.5%.
Let’s see how things have shaped up for Ingersoll Rand this earnings season.
Ingersoll Rand Inc. Price and EPS Surprise
Ingersoll Rand Inc. price-eps-surprise | Ingersoll Rand Inc. Quote
Factors to Note
Strength in the medical, food and pharma businesses is likely to have driven Ingersoll Rand’s performance in the third quarter.
Benefits from the acquisitions of Westwood Technical Limited, Houdstermaatschappij Jorc and Tuthill Pump Group are expected to get reflected in IR’s top-line number. The acquisition of Westwood expanded IR’s IIoT (Industrial Internet of Things) offerings.
The Houdstermaatschappij Jorc acquisition is expected to have boosted performance of the Industrial Technologies & Services segment. The Tuthill Pump acquisition has strengthened Ingersoll Rand’s existing pumping solution offerings.
However, high raw material costs, supply-chain issues and logistics problems are expected to have impacted Ingersoll Rand’s third-quarter performance. Given IR’s substantial international presence, foreign currency headwinds are likely to have affected the top line.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Ingersoll Rand this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Ingersoll Rand has an Earnings ESP of -0.67%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ingersoll Rand currently carries a Zacks Rank #3.
Highlights of Q2 Earnings
Ingersoll Rand reported second-quarter 2022 adjusted earnings of 50 cents per share, surpassing the Zacks Consensus Estimate by 2%. Total revenues of $1,440 million outperformed the Zacks Consensus Estimate by 3.7%. Both the top and bottom lines increased year over year driven by organic revenue growth and benefits from acquisitions.
Stocks to Consider
Here are some companies within the broader Industrial Products sector that you may want to consider, as according to our model, these have the right combination of elements to beat on earnings this reporting cycle.
AGCO Corporation (AGCO - Free Report) has an Earnings ESP Of +1.96% and a Zacks Rank #3. The company is set to release third-quarter 2022 results on Nov 1.
AGCO’s earnings surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 37.5%.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +0.81% and a Zacks Rank #3. The company is scheduled to release fourth-quarter fiscal 2022 (ended Sep 30, 2022) results on Nov 2.
Emerson’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 6%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.