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The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 14.9%.
Let’s see how things have shaped up for Ingersoll Rand this earnings season.
Solid demand and higher orders within the Industrial Technologies & Services segment are expected to drive Ingersoll Rand’s third-quarter results. Strong orders across the product portfolio of compressors, vacuum and blowers, and power tools and lifting are expected to result in higher revenues for the segment.
The acquisitions of Howden Roots (August 2023) and SPX FLOW’s Air Treatment business (January 2023) are expected to boost revenues in the to-be-reported quarter. We expect the Industrial Technologies & Services segment revenues to increase 10.8% year over year for the third quarter.
Pricing actions and contributions from acquisitions are key growth drivers for the Precision & Science Technologies segment. The October 2022 acquisition of Dosatron International expanded IR’s digital technology portfolio. The September 2022 acquisition of Westwood Technical Limited expanded the Precision & Science Technologies segment’s IIoT offerings with Westwood Technical’s Aircom product line. We expect the segment’s revenues to jump 11.3% year over year in the third quarter.
However, the escalating cost of sales and selling and administrative expenses may weigh on Ingersoll Rand’s bottom-line results. Given the company’s substantial international operations, foreign currency headwinds may affect the top-line results.
Earnings Whispers
Our proven model suggests 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 odds of an earnings beat, which is the case here, as elaborated below. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: Ingersoll Rand has an Earnings ESP of +0.36%.
Zacks Rank: Ingersoll Rand presently carries a Zacks Rank #3.
Highlights of Q2 Earnings
Ingersoll Rand reported second-quarter 2023 adjusted earnings of 65 cents per share, which beat the Zacks Consensus Estimate of 54 cents. The bottom line increased 30% year over year. Total revenues of $1,686.5 million outperformed the consensus estimate of $1,581 million. The top line increased 17.1% year over year on a 12.4% rise in organic revenues.
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.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +0.02% and sports a Zacks Rank #1. The company is scheduled to release fourth-quarter fiscal 2023 (ended Sep 30, 2023) financial numbers on Nov 7. You can see the complete list of today’s Zacks #1 Rank stocks here.
Emerson pulled off a trailing four-quarter earnings surprise of 7.4%, on average. The stock has gained 6.4% in the past six months.
Tenaris (TS - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #3. The company is slated to release third-quarter results on Nov 1.
Tenaris delivered a trailing four-quarter earnings surprise of 7.7%, on average. The stock has rallied 10.8% in the past six months.
Image: Bigstock
What's in the Offing for Ingersoll Rand (IR) in Q3 Earnings?
Ingersoll Rand Inc. (IR - Free Report) is scheduled to release third-quarter 2023 results on Nov 1, after market close.
The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 14.9%.
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
Solid demand and higher orders within the Industrial Technologies & Services segment are expected to drive Ingersoll Rand’s third-quarter results. Strong orders across the product portfolio of compressors, vacuum and blowers, and power tools and lifting are expected to result in higher revenues for the segment.
The acquisitions of Howden Roots (August 2023) and SPX FLOW’s Air Treatment business (January 2023) are expected to boost revenues in the to-be-reported quarter. We expect the Industrial Technologies & Services segment revenues to increase 10.8% year over year for the third quarter.
Pricing actions and contributions from acquisitions are key growth drivers for the Precision & Science Technologies segment. The October 2022 acquisition of Dosatron International expanded IR’s digital technology portfolio. The September 2022 acquisition of Westwood Technical Limited expanded the Precision & Science Technologies segment’s IIoT offerings with Westwood Technical’s Aircom product line. We expect the segment’s revenues to jump 11.3% year over year in the third quarter.
However, the escalating cost of sales and selling and administrative expenses may weigh on Ingersoll Rand’s bottom-line results. Given the company’s substantial international operations, foreign currency headwinds may affect the top-line results.
Earnings Whispers
Our proven model suggests 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 odds of an earnings beat, which is the case here, as elaborated below. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Earnings ESP: Ingersoll Rand has an Earnings ESP of +0.36%.
Zacks Rank: Ingersoll Rand presently carries a Zacks Rank #3.
Highlights of Q2 Earnings
Ingersoll Rand reported second-quarter 2023 adjusted earnings of 65 cents per share, which beat the Zacks Consensus Estimate of 54 cents. The bottom line increased 30% year over year. Total revenues of $1,686.5 million outperformed the consensus estimate of $1,581 million. The top line increased 17.1% year over year on a 12.4% rise in organic revenues.
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.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +0.02% and sports a Zacks Rank #1. The company is scheduled to release fourth-quarter fiscal 2023 (ended Sep 30, 2023) financial numbers on Nov 7. You can see the complete list of today’s Zacks #1 Rank stocks here.
Emerson pulled off a trailing four-quarter earnings surprise of 7.4%, on average. The stock has gained 6.4% in the past six months.
Tenaris (TS - Free Report) has an Earnings ESP of +1.42% and a Zacks Rank #3. The company is slated to release third-quarter results on Nov 1.
Tenaris delivered a trailing four-quarter earnings surprise of 7.7%, on average. The stock has rallied 10.8% in the past six months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.