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%.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Japanese entrepreneur Yusaku Maezawa has selected ten crewmembers, comprising artists, content creators, and athletes, to fly with him on SpaceX's Starship around the Moon on the dearMoon mission. SpaceX's first private lunar flight with dearMoon crew, including two backups, is planned to take place in 2023. Maezawa announced the crew for the mission in a YouTube video and a tweet. SpaceX, owned by Elon Musk, has launched 40 satellites of British communications network OneWeb into orbit. From NASA's Kennedy Space Center or KSC in Florida, Falcon 9 rocket on Thursday evening carried the satellites. The Falcon 9's first stage separated, and it then returned to Earth to make a landing on a SpaceX pad at the nearby Cape Canaveral Space Force Station. Google, owned by Alphabet Inc., plans to merge its teams working on Maps products and the mapping service Waze with effect from December 9, reports said. The decision to consolidate processes comes as the search giant is facing pressure to streamline operations and cut costs. The restructuring is expected to reduce overlapping work across the Waze and Maps products.
Follow RTT