Industrial manufacturing company Ingersoll Rand (NYSE:IR) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
Ingersoll Rand missed analysts’ revenue expectations by 1% last quarter, reporting revenues of $1.86 billion, up 7% year on year. It was a slower quarter for the company, with a significant 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 4.8% year on year to $1.91 billion, slowing from the 12.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.84 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 Q4 results, giving us a hint as to what we can expect. Standex delivered year-on-year revenue growth of 6.4%, beating analysts’ expectations by 0.5%, and IDEX reported revenues up 9.4%, falling short of estimates by 0.6%. Standex traded down 2.2% following the results while IDEX was also down 9.5%.
Read our full analysis of Standex’s results here and IDEX’s results here.
Investors in the gas and liquid handling segment have had steady hands going into earnings, with share prices flat over the last month. Ingersoll Rand is up 3.1% during the same time and is heading into earnings with an average analyst price target of $104.32 (compared to the current share price of $92.17).
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