Ingersoll Rand Inc has recently reported an increase in earnings for its first quarter, surpassing last year's results as well as Wall Street expectations.
Ingersoll Rand's quarter one earnings totalled $202.2 million, translating to $0.50 per share. This is a significant rise from the previous year's first quarter earnings of $161.1 million, or $0.39 per share.
Upon excluding certain items, the company's adjusted earnings for the period come to $317.6 million, or $0.78 per share. These figures surpassed the average analyst prediction of $0.69 per projected share, as per data collected by Thomson Reuters.
There was also a 2.5% increase in the company's revenue for the quarter, rising from $1.63 billion last year to $1.67 billion.
A look at Ingersoll Rand's first-quarter earnings (GAAP) reveals an increase from last year - Earnings rose from $161.1 million to $202.2 million. Earnings Per Share (EPS) saw an increase from $0.39 to $0.50. Revenue also saw a boost, increasing from $1.63 billion to $1.67 billion.
As for the outlook: Ingersoll Rand is predicting a Full Year Earnings Per Share (EPS) guidance ranging from $3.20 to $3.30.
