real-time news and commentary for investors
Friday, Oct 18
Ingersoll-Rand rises after posting solid results
- Ingersoll-Rand (IR +5.5%) is strong in morning trading after putting up a solid quarter.
- "We realized revenue growth and earnings per share above our guidance, and continued to deliver excellent operating leverage in the quarter," CEO Michael Lamach says.
- U.S. revenues +5%, international +3%.
- Adjusted operating margin rose 140 bps from Q3 2012.
- Climate Solutions revenue +4% Y/Y. Bookings +7%. (PR)
- Outlook: FY13 adjusted EPS of $3.55-3.60 on sales of $14.3-14.4B. Q4 adjusted EPS $0.85-0.90 on revenue of $3.5-3.6B. Consensus for the full year is $3.59/share on revenue of $14.38B and for Q4, the Street sees $0.94/share on $3.6B in sales.