FX.co ★ Ingersoll Rand Q2 Results Top Estimates; Lifts FY Outlook

Ingersoll Rand Inc. (IR) announced an increase in its second-quarter net income attributable to the company, which rose to $185.0 million, or $0.45 per share, up from $179.5 million, or $0.44 per share, in the same period last year.

The adjusted earnings per share reached $0.83, an increase from $0.68 in the previous year. This surpassed the expectations of analysts polled by Thomson Reuters, who had anticipated earnings of $0.78 per share for the second quarter. Typically, analysts' estimates exclude special items.

Quarterly revenues experienced growth, climbing to $1.81 billion compared to $1.69 billion in the previous year. Analysts had projected revenues of $1.80 billion for the quarter.

The company has revised its annual total revenue growth guidance, now expecting an increase in the range of 6% to 8%, up from the prior forecast of 4% to 6%.

Moreover, Ingersoll Rand has updated its full-year 2024 adjusted earnings per share guidance to between $3.27 and $3.37, from the previous range of $3.20 to $3.30. Analysts have forecasted annual earnings of $3.30 per share.