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Ingersoll (IR) Beats on Q2 Earnings, Revises Full-Year View

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With a diverse portfolio of industrial and commercial products, Ingersoll-Rand PlcIR is a premier player in the industrial goods market. This Dublin, Ireland-based firm has a solid foundation of global brands with a leading market share in all major product lines.

After the divestiture of the commercial and residential security businesses, IR has been diligently focusing on improving the efficiencies and capabilities of its core businesses. The company is constantly on the lookout for opportunistic acquisitions to supplement its organic growth. However, IR operates in a competitive market place, which necessitates sustained investments in R&D initiatives to stay ahead of competition, thereby increasing its costs.

With rising operating costs and adverse currency translation effects shrinking margins, investors have been eagerly waiting for the company's latest earnings report.

In the last four trailing quarters, IR has reported a positive average earnings surprise of 3.91%, beating earnings estimates twice. Currently, IR has a Zacks Rank #2 (Buy), but that could definitely change following second-quarter earnings report which was just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

We have highlighted some of the key stats from this just-revealed announcement below.

Earnings: IR beats on earnings. The Zacks Consensus Estimate called for earnings per share (EPS) of $1.72 and the company reported adjusted continuing EPS of $1.85 per share.

Revenues: Revenues beat. IR posted revenues of $4,358 million, compared with the Zacks Consensus Estimate of $4,212 million.

Key Stats to Note: With diligent execution of operational plans and healthy end markets, IR delivered double-digit bookings and revenue growth in both segments. The company is poised to grow on the back of its unique capital allocation strategy. IR currently anticipates to secure earnings within the range of $5.00-$5.50 per share. While, organic top line growth for the full-year is predicted to lie within 7-8% range.

Stock Price: As of Jul 24, 2018, IR's stock closed the trading session at $91.08 per share. The stock price did not show any movement in the pre-market trading session.

Ingersoll-Rand PLC Price

Ingersoll-Rand PLC (Ireland) Price | Ingersoll-Rand PLC (Ireland) Quote

Check back our full write up on this IR earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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