Ingersoll Rand (IR) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.79%. A quarter ago, it was expected that this maker of flow control and compression equipment would post earnings of $0.69 per share when it actually produced earnings of $0.78, delivering a surprise of 13.04%.Over ...

Ingersoll Rand Reports Record Second Quarter 2024 Revenue, Adjusted EBITDA, and Adjusted EPS Performance Raises Guidance for Total Company Revenue, Adjusted EBITDA, and Adjusted EPS Second Quarter 2024 Highlights (All comparisons against the second quarter of 2023 unless otherwise noted.) Strong performance driven by its competitive differentiator - Ingersoll Rand Execution Excellence (IRX): • Second quarter orders of $1,799 million, up 4%, or down 1% organic ◦ On a two-year stack, up 12%, or up 3% organic ...

Core Insights - Ingersoll Rand Inc. reported record second quarter revenues, Adjusted EBITDA, and Adjusted EPS, driven by its Execution Excellence (IRX) model, despite macroeconomic headwinds [2][8] - The company raised its full-year 2024 guidance for total revenue growth to a range of 6% to 8%, Adjusted EBITDA to $2,010 to $2,060 million, and Adjusted EPS to $3.27 to $3.37 [2][8] Financial Performance - Second quarter orders reached $1,799 million, a 4% increase, while revenues were reported at $1,805 million, up 7% [1][2] - Adjusted EBITDA for the second quarter was $495 million, reflecting a 16% increase year-over-year, with a margin of 27.4% [1][2] - The company generated $305 million in operating cash flow and $283 million in free cash flow, marking a 39% increase [1][5] Segment Performance - The Industrial Technologies and Services Segment reported orders of $1,465 million, up 1%, and revenues of $1,467 million, up 6% [3] - The Precision and Science Technologies Segment saw orders of $334 million, up 14%, and revenues of $339 million, up 10% [4] Balance Sheet and Cash Flow - Ingersoll Rand maintained a strong liquidity position with $3.7 billion available, including $1.1 billion in cash [5][6] - The company reported a net debt to Adjusted EBITDA leverage of 2.0x, an increase driven by the acquisition of ILC Dover [5][6] M&A Activity - Ingersoll Rand completed multiple acquisitions in the second quarter, including ILC Dover and Complete Air and Power Solutions, totaling $2.6 billion [6][8] - The recent M&A activity contributed to the raised revenue guidance for 2024, despite some offset from foreign exchange impacts and reduced organic growth expectations [8][9]

Core Insights - Ingersoll Rand Inc. reported record second quarter revenues, Adjusted EBITDA, and Adjusted EPS, driven by its Execution Excellence (IRX) model, despite macroeconomic headwinds [2][8] - The company raised its full-year 2024 guidance for total revenue growth to a range of 6% to 8%, Adjusted EBITDA to $2,010 to $2,060 million, and Adjusted EPS to $3.27 to $3.37 [2][8] Financial Performance - Second quarter orders reached $1,799 million, a 4% increase, while revenues were $1,805 million, up 7% [1][2] - Adjusted EBITDA for the second quarter was $495 million, reflecting a 16% increase with a margin of 27.4%, up 220 basis points year over year [1][2] - Reported net income attributable to Ingersoll Rand was $185 million, or $0.45 per share, with adjusted net income of $341 million, or $0.83 per share [1][2] Segment Performance - The Industrial Technologies and Services Segment reported orders of $1,465 million, up 1%, and revenues of $1,467 million, up 6% [3] - The Precision and Science Technologies Segment saw orders of $334 million, up 14%, and revenues of $339 million, up 10% [4] Cash Flow and Liquidity - The company generated $305 million in operating cash flow and $283 million in free cash flow, marking a 39% increase year over year [1][5] - Ingersoll Rand maintained a strong liquidity position with $3.7 billion available, including $1.1 billion in cash [5][6] M&A Activity - Ingersoll Rand deployed $2.6 billion for M&A, acquiring ILC Dover and other companies to enhance its market position [6][8] - The company issued $3.3 billion in unsecured investment-grade bonds to finance acquisitions and repay existing debt [6][8] Shareholder Returns - Approximately $71 million was returned to shareholders through share repurchases and dividends in the second quarter [7]

Group 1 - Ingersoll Rand Inc. declared a regular quarterly cash dividend of $0.02 per share, payable on September 5, 2024, to stockholders of record on August 15, 2024 [1] - The company is a global provider of mission-critical flow creation and life science and industrial solutions [2] - Ingersoll Rand is supported by over 80 respected brands, excelling in complex and harsh conditions [2] Group 2 - The company emphasizes an entrepreneurial spirit and ownership mindset to enhance the lives of employees, customers, shareholders, and the planet [2] - Ingersoll Rand focuses on exceptional performance and durability in its product offerings [2] - The commitment of employees to expertise, productivity, and efficiency helps in developing long-term customer relationships [2]

Core Viewpoint - Ingersoll Rand Inc. will release its second quarter 2024 earnings on July 31, 2024, and will host a conference call on August 1, 2024, to discuss the results [1]. Group 1: Earnings Release Information - The second quarter 2024 earnings release will occur after market close on July 31, 2024 [1]. - A live earnings conference call is scheduled for August 1, 2024, at 8 a.m. Eastern Daylight Time [1]. - Participants can join the call by dialing +1-888-330-3073 domestically or +1-646-960-0683 internationally, using access code 8970061 [1]. Group 2: Webcast and Replay - A real-time audio webcast of the earnings presentation will be available on the Ingersoll Rand Investor Relations website [1]. - A replay of the webcast will be accessible after the conference concludes [2]. Group 3: Company Overview - Ingersoll Rand Inc. is focused on providing mission-critical flow creation and life science and industrial solutions [3]. - The company emphasizes an entrepreneurial spirit and ownership mindset, aiming to improve life for employees, customers, shareholders, and the planet [3]. - Ingersoll Rand supports its offerings with over 80 respected brands, excelling in complex and harsh conditions [3].

Ingersoll Rand Inc. (IR) is poised to gain from the solid momentum in its businesses, strong product portfolio, strategic acquisitions and a sound capital-deployment strategy. The company remains focused on investing in growth opportunities and strengthening its long-term market position.This Zacks Rank #2 (Buy) company has a market capitalization of $37 billion. In the past year, the stock has risen 38.5% compared with the industry’s 11.7% growth.Image Source: Zacks Investment ResearchLet’s delve into the ...

Core Insights - Ingersoll Rand Inc. has released its 2023 Sustainability Report, emphasizing its commitment to sustainability through its strategic imperatives of Grow Sustainably and Operate Sustainably [1][2] Grow Sustainably - The company employed a Design for Sustainability (DfS) process for all new product development, launching 80 new innovative products in 2023 [3] - 66% of the product portfolio features sustainable attributes, with expectations that products with sustainable attributes will account for over 25% of total revenue by 2030 [3] - Ingersoll Rand continues to support customers in high-growth, sustainable end markets such as clean energy, food, life sciences, and water [3] Operate Sustainably - The company prioritized employee safety, surpassing the industry average by 73%, with a total recordable incident rate approaching world-class levels [4][10] - More than 1,800 employees have been granted equity through the Ownership Works program, increasing the total number of employees receiving grants to over 23,000 since May 2017 [4] - Ingersoll Rand powers 45 sites worldwide with renewable energy and achieved its water reduction goal seven years ahead of the 2030 target [4] - The company has been recognized on the "A List" by CDP and included in the Dow Jones Sustainability Indices for its leadership in sustainability practices [4] Future Goals - Ingersoll Rand has set a new operational goal to reduce absolute water usage by 30% in water-stressed sites by 2030 [4] - By 2040, the company aims to help customers reduce or avoid 1 billion metric tons of carbon dioxide equivalent (CO2e) in their Scope 2 emissions through its products and services [4]

Core Viewpoint - Ingersoll Rand Inc. has released its 2023 Sustainability Report, highlighting its commitment to sustainability through innovative practices and operational excellence aimed at creating a better future [1][2]. Group 1: Grow Sustainably - The company employed a Design for Sustainability (DfS) process for all new product development, launching 80 new innovative products in 2023 [3]. - 66% of the product portfolio features sustainable attributes, with expectations that products with sustainable attributes will account for over 25% of total revenue by 2030 [3]. - Ingersoll Rand continues to support customers in high-growth, sustainable end markets such as clean energy, food, life sciences, and water [3]. Group 2: Operate Sustainably - The company prioritized employee safety, surpassing the industry average by 73%, with a total recordable incident rate (TRIR) of 0.69, approaching world-class standards [4][10]. - More than 1,800 employees have been granted equity through the Ownership Works program, increasing the total number of employees receiving grants to over 23,000 since May 2017 [4]. - Ingersoll Rand powers 45 sites worldwide with renewable energy and achieved its water reduction goal seven years ahead of the 2030 target [4]. - The company has been recognized on the "A List" by CDP and included in the Dow Jones Sustainability Indices for its leadership in sustainability practices [4]. Group 3: Future Goals - The company has set a new operational goal to reduce absolute water usage by 30% in water-stressed sites by 2030 [4]. - By 2040, Ingersoll Rand aims to help customers reduce or avoid 1 billion metric tons of carbon dioxide equivalent (CO2e) in their Scope 2 emissions through its products and services [4].

Core Insights - Ingersoll Rand Inc. has appointed Scott Watson as the senior vice president and general manager of the Life Science Technologies platform, effective immediately, succeeding Corey Walker [1][2] - Scott Watson's extensive experience in operational strategy and execution at ILC Dover positions him to drive growth in Ingersoll Rand's life sciences sector [2] Company Leadership Transition - The leadership transition is part of a thoughtful succession plan aimed at ensuring seamless continuity in management [1] - Scott Watson will oversee ILC's global strategy across commercial, operations, and new product development, and will take leadership of the legacy Ingersoll Rand medical business starting January 1, 2025 [1] Scott Watson's Background - Scott Watson has a strong track record in managing global operations, supply chain, and manufacturing processes, contributing to ILC Dover's operational and financial success [2] - He holds an MBA from Northwestern University's Kellogg School of Management, a Master of Engineering Management from Northwestern's McCormick School, and a Bachelor of Business Administration from Ohio University [2]