Ingersoll-Rand Non-GAAP EPS of $0.49 beats by $0.04, revenue of $1.34B beats by $50M; raises FY22 guidance

May 04, 2022 4:48 PM ETIngersoll Rand Inc. (IR)By: Meghavi Singh, SA News Editor

Ingersoll-Rand press release (NYSE:IR): Q1 Non-GAAP EPS of $0.49 beats by $0.04.
Revenue of $1.34B (+18.6% Y/Y) beats by $50M.
Record orders of $1,630M, up 25%, or 21% organic.
Adjusted EBITDA of $304 million, up 24%, with a margin of 22.7% and incremental margin of 29%.
Reported operating cash flow from continuing operations of $50 million and free cash flow from continuing operations of $32 million.
Raising full-year 2022 organic revenue growth expectation by 100 bps to 8% to 10%, affirming total revenue growth of 11% to 13% vs. estimated growth of 11.22% Y/Y and raising Adjusted EBITDA range to $1,385 to $1,425 million, up 16% to 20% over the prior year.