Industrial manufacturing company Ingersoll Rand (NYSE:IR) will be reporting results this Thursday after market close. Here’s what investors should know.
Ingersoll Rand met analysts’ revenue expectations last quarter, reporting revenues of $1.72 billion, up 2.8% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations and a miss of analysts’ EBITDA estimates.
Is Ingersoll Rand a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ingersoll Rand’s revenue to grow 2.1% year on year to $1.84 billion, slowing from the 7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.80 per share.
Heading into earnings, analysts covering the company have mixed opinions about the business, with revenue estimates seeing 3 upward and 4 downward revisions over the last 30 days. Ingersoll Rand has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Ingersoll Rand’s peers in the gas and liquid handling segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 5.6%, beating analysts’ expectations by 2.5%, and Flowserve reported revenues up 2.7%, falling short of estimates by 3.1%. Gorman-Rupp traded up 9.9% following the results.
Read our full analysis of Gorman-Rupp’s results here and Flowserve’s results here.
There has been positive sentiment among investors in the gas and liquid handling segment, with share prices up 5.5% on average over the last month. Ingersoll Rand is up 4.7% during the same time and is heading into earnings with an average analyst price target of $93.47 (compared to the current share price of $87.07).
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