Ingersoll Rand Reports Record Q4, Full-Year Earnings

The flow control and compression equipment maker posted $6.9 billion in annual revenue.

Screen Shot 2024 02 19 At 1 56 22 Pm
Ingersoll Rand

DAVIDSON, N.C. (AP) — Ingersoll Rand Inc. on Thursday reported fourth-quarter earnings of $229.8 million.

On a per-share basis, the North Carolina-based company said it had net income of 56 cents. Earnings, adjusted for one-time gains and costs, came to 86 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The maker of flow control and compression equipment posted revenue of $1.82 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.76 billion.

For the year, the company reported profit of $778.7 million, or $1.90 per share. Revenue was reported as $6.88 billion.

Ingersoll expects full-year earnings in the range of $3.14 to $3.24 per share.

More in Earnings