- Ingersoll-Rand's (NYSE:IR) net profit drops to $47.6M from $235.6M, hurt by $102.2M in spinoff costs and restructuring expenses.
- Net income from continuing operations more than halves to $77.7M.
- Industrial segment revenue edged up less than 1% to $771.4M; climate +7.8% to $2.33B.
- Expects Q1 adjusted EPS of $0.23-0.28 vs consensus of $0.34 and revenue growth of 2-3% vs a decline of 12%.
- Forecasts 2014 EPS of $3.05-3.20 vs $3.20 and revenue growth of 3-4% vs 5%.
- Ingersoll-Rand intends to complete a $2B stock buyback program in Q1 and then begin a new $1.5B scheme. (PR)