More on Ingersoll-Rand Q1: Net profit drops 10%

|About: Ingersoll-Rand plc (IR)|By:, SA News Editor

Ingersoll-Rand (IR) net profit drops 10% to $79M, hurt by restructuring costs and the spin-off of the company's commercial and residential security operations in December.

Operating margin increased to 5.7% from 4.5%, mainly due to improved volume, productivity and pricing.

Expects adjusted Q2 EPS of $1.09-1.13 vs consensus of $1.06, and revenue growth of 4-5% vs analyst forecasts for a fall of 9.9% to $3.54B.

Affirmed 2014 outlook, citing the prospect of moderate growth in global construction and slow growth in industrial markets.

Shares are +1.7% premarket. (PR)