Ingersoll-Rand: 2Q Earnings Snapshot
DUBLIN (AP) _ Ingersoll-Rand PLC (IR) on Tuesday reported second-quarter profit of $456.1 million.
On a per-share basis, the Dublin-based company said it had net income of $1.86. Earnings, adjusted for one-time gains and costs, were $2.09 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.
The manufacturer posted revenue of $4.53 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $4.58 billion.
Ingersoll-Rand expects full-year earnings in the range of $6.35 to $6.40 per share.
Ingersoll-Rand shares have increased 34% since the beginning of the year, while the Standard & Poor’s 500 index has risen 21%. The stock has risen 25% in the last 12 months.