Strong HVAC Sales Drive Ingersoll Rand’s Earnings Beat; Industrial Margins Should Improve From Here
Strong climate segment performance and sequential profitability gains for Ingersoll Rand’s challenged industrial segment helped the company beat third-quarter consensus sales and earnings estimates. Narrow-moat Ingersoll Rand grew sales 2% and expanded adjusted operating margins 30 basis points to 14.3% from the year-ago quarter. Based on better-than-expected third-quarter earnings, management raised its full-year adjusted EPS guidance to $4.17-$4.22 from $4.00-$4.10 per share. We increased our ...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.
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