Ingersoll Rand Inc Q1 Profit Increases, beats estimates

(RTTNews) - Ingersoll Rand Inc (IR) released earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $161.1 million, or $0.39 per share. This compares with $103.7 million, or $0.25 per share, in last year's first quarter.

Excluding items, Ingersoll Rand Inc reported adjusted earnings of $267.0 million or $0.65 per share for the period.

Analysts on average had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.6% to $1.63 billion from $1.34 billion last year.

Ingersoll Rand Inc earnings at a glance (GAAP) :

-Earnings (Q1): $161.1 Mln. vs. $103.7 Mln. last year. -EPS (Q1): $0.39 vs. $0.25 last year. -Analyst Estimate: $0.52 -Revenue (Q1): $1.63 Bln vs. $1.34 Bln last year.

-Guidance: Full year EPS guidance: $2.64 to $2.74