Ingersoll Rand reports record Q2 revenue of $1,687M, raises full-year guidance

Ingersoll Rand Inc.

2023-Q2 EPS reported $0.83 revenue$3,315,800,000

Q2 revenue up 17% to $1,687M; adjusted EPS $0.68 vs $0.44 GAAP; adj EBITDA $425M, margin 25.2%, up 190 bps.
Raises FY2023 organic revenue growth guidance to 8-10%, adjusted EBITDA to $1,690-$1,740M, adj EPS to $2.70-$2.80.
Acquisition of Howden Roots LLC (low-pressure compression) announced, expected to close in Q3 2023.
Operating cash flow from continuing ops $228M; free cash flow $204M, up 24%; net debt/adj EBITDA leverage 1.0x.
Deployed $56M for share repurchases (~1M shares) and $8M in dividends during Q2; Fitch assigned BBB- issuer rating.

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