Industrial manufacturing company Ingersoll Rand (NYSE:IR) will be reporting earnings tomorrow after market hours. Here’s what to expect.
Ingersoll Rand met analysts’ revenue expectations last quarter, reporting revenues of $1.90 billion, up 4.2% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but a slight miss of analysts’ organic revenue 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 3.1% year on year to $1.72 billion, in line with the 2.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.74 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. 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 Q1 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 2.9%, missing analysts’ expectations by 0.5%, and Graco reported revenues up 7.3%, in line with consensus estimates. Gorman-Rupp traded up 6.1% following the results while Graco was also up 2.1%.
Read our full analysis of Gorman-Rupp’s results here and Graco’s results here.
Investors in the gas and liquid handling segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. Ingersoll Rand is down 7.1% during the same time and is heading into earnings with an average analyst price target of $93.29 (compared to the current share price of $74.86).
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