Ingersoll Rand Q2 Results Top Estimates; Lifts FY Outlook

(RTTNews) - Ingersoll Rand Inc. (IR) reported that its second quarter net income attributable to the company increased to $185.0 million or $0.45 per share from $179.5 million or $0.44 per share in the prior year.

Adjusted earnings per share were $0.83 compared to $0.68 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.78 per share for the second quarter. Analysts' estimates typically exclude special items. Quarterly revenues grew to $1.81 billion from $1.69 billion in the prior year. Analysts expected revenue of $1.80 billion for the quarter.

The company raised annual total revenue growth guidance to a range of 6% to 8% from the prior estimation of 4%-6% growth.

The company raised its full-year 2024 adjusted earnings per share guidance to a range of $3.27 to $3.37, from the prior estimation of $3.20 - $3.30. Analysts expect annual earnings of $3.30 per share.

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