Ingersoll Rand
DAVIDSON, N.C. (AP) — Ingersoll Rand Inc. on Wednesday reported second-quarter net income of $185 million.
On a per-share basis, the maker of flow control and compression equipment said it had net income of 45 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 83 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The North Carolina-based company posted revenue of $1.81 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.78 billion.
Ingersoll expects full-year earnings in the range of $3.27 to $3.37 per share.
