Ingersoll-Rand Plc Earnings: Everything You Must Know Now
Ingersoll-Rand Plc (NYSE:IR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. /p>
Ingersoll-Rand Plc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 0.87% to $1.14 in the quarter versus EPS of $1.15 in the year-earlier quarter.
Revenue: Decreased 32.48% to $2.58 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ingersoll-Rand Plc reported adjusted EPS income of $1.14 per share. By that measure, the company beat the mean analyst estimate of $1.08. It missed the average revenue estimate of $3.88 billion.
Quoting Management: “We delivered revenue growth and earnings above our commitment in the second quarter with solid operational execution across the company,” said Michael W. Lamach, chairman and chief executive officer. “At the same time, we completed critical milestones related to the security business spinoff and concluded a successful debt offering that improved our liquidity and reduced our future interest costs. The quarter demonstrated our continued ability to successfully navigate challenging market environments and deliver operating leverage while still making strategic investments to support the company’s long-term growth strategy.”
Key Stats (on next page)…