Industrial manufacturing company Ingersoll Rand (NYSE: IR) will be reporting results this Thursday after market hours. Here’s what to expect.
Ingersoll Rand beat analysts’ revenue expectations last quarter, reporting revenues of $2.05 billion, up 8.5% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and full-year EBITDA guidance meeting analysts’ expectations.
Is Ingersoll Rand a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ingersoll Rand’s revenue to grow 4.9% year on year, in line with the 5.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ingersoll Rand has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Ingersoll Rand’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Gorman-Rupp delivered year-on-year revenue growth of 11.8%, beating analysts’ expectations by 6.4%, and Graco reported revenues up 7.9%, falling short of estimates by 0.8%. Gorman-Rupp traded up 6.9% following the results while Graco was down 15.3%.
Read our full analysis of Gorman-Rupp’s results here and Graco’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the industrial machinery stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.7% on average over the last month. Ingersoll Rand is down 1.1% during the same time and is heading into earnings with an average analyst price target of $94.10 (compared to the current share price of $75.53).
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