Ingersoll Rand Posts Solid 2Q Results and Raises Full-Year Sales Guidance; Increased FVE to $88
Ingersoll Rand reported strong second-quarter results as the narrow-moat HVAC and industrial products firm posted a 6% year-over-year increase in consolidated sales (7% organic), expanded adjusted operating margin by 40 basis points to 14.4%, and grew adjusted earnings 8%. Ingersoll Rand’s performance easily bested the consensus revenue and adjusted EPS estimates with consolidated sales coming in at $3.91 billion (versus $3.78 billion consensus) and adjusted EPS of $1.49 (versus $1.46 consensus)...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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