With a diverse portfolio of industrial and commercial products, Ingersoll-Rand Plc (IR) is a premier player in the industrial goods market. This Dublin, Ireland-based firm has a solid foundation of global brands and leading market share in all major product lines.
After the divestiture of the commercial and residential security businesses, Ingersoll has been diligently focusing on improving the efficiencies and capabilities of its core businesses. However, Ingersoll operates in a competitive market place, which necessitates sustained investments in R&D initiatives to stay ahead of competition, thereby increasing its costs.
With rising operating costs and adverse currency translation effects gradually shrinking margins, investors have been eagerly waiting for the company’s latest earnings report.
Earnings estimate revisions have moved south in the last month on apprehensions and uncertainty regarding both operational and execution risks. In the last four trailing quarters, IR has reported a positive average earnings surprise of 10.2%, beating earnings estimates on every occasion. As the intensity of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report
Currently, IR has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below
Earnings: Ingersoll beat on earnings. The Zacks Consensus Estimate called for EPS of 31 cents, while the company reported EPS of 38 cents.
Revenue: Revenues beat. Ingersoll posted revenues of $2,888 million, compared to the Zacks Consensus Estimate of $2,832 million.
Key Stats to Note: The company completed the acquisitions of Cameron International Corporation’s Centrifugal Compression division and FRIGOBLOCK, a European leader in hybrid-diesel transportation refrigeration. These acquisitions will add rich value to the company’s industrial segment.
Stock Price: Shares prices remained flat in pre-market trading following the earnings beat at the time of writing.
Check back for our full write up on this Ingersoll earnings report later!
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