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Ingersoll Rand Q2 Profit Down

Ingersoll Rand Inc. (IR) Wednesday reported second-quarter net income of $138.5 million or $0.34 per share, down from $233.9 million or $0.55 per share last year.

Adjusted net income from continuing operations was $223 million or $0.54 per share.

Revenues for the quarter rose to $1.44 billion from $1.28 billion last year.

Analysts polled by Thomson Reuters expected earnings of $0.52 per share and revenues of $1.39 billion for the quarter.

The company also raised full-year 2022 organic revenue growth expectation by 300 bps to 11% to 13%, and re-affirmed total revenue growth of 11% to 13%.

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