Ingersoll Rand Raises Full-Year Guidance After Reporting Strong 2Q Results
Narrow-moat-rated Ingersoll Rand reported strong second-quarter results that easily beat consensus estimates. Total revenue grew 11% year over year (9% organic) to $4.4 billion, which beat the consensus estimate by almost $145 million. Adjusted diluted EPS increased 24% to $1.85 versus the $1.72 consensus estimate. Ingersoll Rand's strong performance was driven by robust revenue growth from both its climate and industrial segments, the industrial segment's significant margin expansion, and stabl...Ingersoll-Rand provides products, services and solutions to enhance air in homes and buildings, transport and protect food. Co.'s segments are: Climate. which includes Trane® and American Standard® Heating & Air Conditioning, providing heating, ventilation and air conditioning systems, and commercial and residential building services, parts, support and controls, energy services and building automation as well as transport temperature control solutions; and Industrial, which includes compressed air and gas systems and services, power tools, material handling systems, ARO® fluid management equipment, as well as Club Car ® golf, utility and rough terrain vehicles.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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