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The Zacks Consensus Estimate for the company’s fourth-quarter earnings has been revised upward by a penny in the past 60 days. Also, 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 7.8%.
Let’s see how things have shaped up for Ingersoll Rand this earnings season.
Factors to Note
Strength in Ingersoll Rand’s food, life science, water and clean energy businesses are expected to have driven its performance in the fourth quarter. Its solid product portfolio, innovation capabilities and focus on boosting aftermarket businesses is expected to have been beneficial in the to-be-reported quarter.
Robust product portfolio of compressors, industrial vacuum and blowers, power tools and lifting as well as others are likely to have benefited IR’s Industrial Technologies & Services segment. The Zacks Consensus Estimate for revenues in the Industrial Technologies & Services segment indicates a 5.5% rise from the year-ago reported quarter. For the fourth quarter, we expect the segment’s revenues to increase 3.2% year over year.
For the Precision & Science Technologies segment, strong momentum in the air dimensions business is expected to have been beneficial in the fourth quarter. The consensus mark for fourth-quarter Precision & Science Technologies segment revenues suggests a 9.7% increase from the year-ago reported number. For the quarter, we expect the Precision & Science Technologies segment revenues to climb 8.9% year over year.
The acquisition of Dosatron International in October 2022 is expected to have boosted Ingersoll Rand’s top line in the fourth quarter.
However, IR’s fourth-quarter performance is expected to have been hampered by increasing costs of sales, rising selling and administrative expenses and supply-chain disruptions. Adverse foreign currency movements are expected to have impacted the company’s overseas business revenues.
Our proven model suggests an earnings beat for IR this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is 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 +0.64%.You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ingersoll Rand carries a Zacks Rank of 2.
Highlights of Q3 Earnings
Ingersoll Rand reported better-than-expected third-quarter 2022 results, wherein earnings surpassed estimates by 5.1% and sales beat the same by 4.5%. Its adjusted quarterly earnings were 62 cents per share, reflecting growth of 8.8% from the year-ago quarter’s 57 cents. The bottom line surpassed the Zacks Consensus Estimate of 59 cents. In the quarter under review, Ingersoll Rand’s revenues of $1,515.7 million reflected growth of 14.4% from the year-ago quarter. The revenues surpassed the Zacks Consensus Estimate of $1,451 million.
Other Stocks to Consider
Here are some other companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
DMC Global Inc. (BOOM - Free Report) has an Earnings ESP of +7.86% and a Zacks Rank of 3 at present. The company is slated to release fourth-quarter 2022 results on Feb 23.
DMC Global’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 126%.
Allegion plc (ALLE - Free Report) has an Earnings ESP of +4.19% and a Zacks Rank of 2. The company is scheduled to release fourth-quarter 2022 earnings numbers on Feb 22.
Allegion’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 8.8%.
Image: Bigstock
Ingersoll Rand (IR) to Post Q4 Earnings: What's in Store?
Ingersoll Rand Inc. (IR - Free Report) is scheduled to release fourth-quarter 2022 results on Feb 20, after market close.
The Zacks Consensus Estimate for the company’s fourth-quarter earnings has been revised upward by a penny in the past 60 days. Also, 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 7.8%.
Let’s see how things have shaped up for Ingersoll Rand this earnings season.
Factors to Note
Strength in Ingersoll Rand’s food, life science, water and clean energy businesses are expected to have driven its performance in the fourth quarter. Its solid product portfolio, innovation capabilities and focus on boosting aftermarket businesses is expected to have been beneficial in the to-be-reported quarter.
Robust product portfolio of compressors, industrial vacuum and blowers, power tools and lifting as well as others are likely to have benefited IR’s Industrial Technologies & Services segment. The Zacks Consensus Estimate for revenues in the Industrial Technologies & Services segment indicates a 5.5% rise from the year-ago reported quarter. For the fourth quarter, we expect the segment’s revenues to increase 3.2% year over year.
For the Precision & Science Technologies segment, strong momentum in the air dimensions business is expected to have been beneficial in the fourth quarter. The consensus mark for fourth-quarter Precision & Science Technologies segment revenues suggests a 9.7% increase from the year-ago reported number. For the quarter, we expect the Precision & Science Technologies segment revenues to climb 8.9% year over year.
The acquisition of Dosatron International in October 2022 is expected to have boosted Ingersoll Rand’s top line in the fourth quarter.
However, IR’s fourth-quarter performance is expected to have been hampered by increasing costs of sales, rising selling and administrative expenses and supply-chain disruptions. Adverse foreign currency movements are expected to have impacted the company’s overseas business revenues.
Ingersoll Rand Inc. Price and EPS Surprise
Ingersoll Rand Inc. price-eps-surprise | Ingersoll Rand Inc. Quote
Earnings Whispers
Our proven model suggests an earnings beat for IR this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is 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 +0.64%.You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Ingersoll Rand carries a Zacks Rank of 2.
Highlights of Q3 Earnings
Ingersoll Rand reported better-than-expected third-quarter 2022 results, wherein earnings surpassed estimates by 5.1% and sales beat the same by 4.5%. Its adjusted quarterly earnings were 62 cents per share, reflecting growth of 8.8% from the year-ago quarter’s 57 cents. The bottom line surpassed the Zacks Consensus Estimate of 59 cents. In the quarter under review, Ingersoll Rand’s revenues of $1,515.7 million reflected growth of 14.4% from the year-ago quarter. The revenues surpassed the Zacks Consensus Estimate of $1,451 million.
Other Stocks to Consider
Here are some other companies within the broader Industrial Products sector, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
DMC Global Inc. (BOOM - Free Report) has an Earnings ESP of +7.86% and a Zacks Rank of 3 at present. The company is slated to release fourth-quarter 2022 results on Feb 23.
DMC Global’s earnings have surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 126%.
Allegion plc (ALLE - Free Report) has an Earnings ESP of +4.19% and a Zacks Rank of 2. The company is scheduled to release fourth-quarter 2022 earnings numbers on Feb 22.
Allegion’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 8.8%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.