Ingersoll Rand Posts Solid 3Q Results and Maintains Full-Year Guidance; Raised FVE to $94
Narrow-moat Ingersoll-Rand turned in a solid third quarter, as sales grew 3% (2% organic) year over year to $3.671 billion (narrowly missing the $3.707 billion consensus estimate), and adjusted EPS increased 2% to $1.44 (versus $1.43 consensus). Normally, we would’ve expected better earnings growth, but third-quarter adjusted EPS was negatively impacted by hurricanes (to the tune of $0.04-$0.05 per share) and investments in the growing Chinese commercial HVAC markets. Although these growth initi...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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