Ingersoll Rand Q3 revenue up 15% to $1.74B; raises FY23 guidance across all metrics

Ingersoll Rand Inc.

2023-Q3 EPS reported $1.34 revenue$5,054,700,000

Q3 revenue $1,739M (+15% total, +6% organic); net income $208M ($0.51 EPS); adjusted net income $316M ($0.77 EPS).
Adjusted EBITDA $462M (+23%, margin 26.5%, up 170 bps); free cash flow $369M (+46%).
Raises FY23 guidance: total revenue growth 14-16% (prev 12-14%); adj. EBITDA $1,730-1,770M; adj. EPS $2.81-2.89.
Completed three acquisitions (Roots, Oxywise, Fraserwoods); deployed $308M in M&A in Q3.
Refinanced $1.5B floating secured loans with unsecured bonds; net leverage 0.9x; liquidity $3.2B.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ingersoll Rand Inc. reported the quarter ended September 30, 2023 results: revenue $1,739 million, net income $208 million, EPS $0.51 per share. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $1,739 million
Net income: $208 million
EPS: $0.51 per share
Guidance: raised
Result: reported results

Exact text from the filing

Ingersoll Rand Reports Record Third Quarter 2023 Results Raises Total Company Guidance including Organic Revenue Growth Third Quarter 2023 Highlights (All comparisons against the third quarter of 2022 unless otherwise noted.) Strong performance driven by its competitive differentiator - Ingersoll Rand Execution Excellence (IRX): • Third quarter orders of $1,638 million, down 1%, or down 8% organic ◦ On a two-year stack, organic orders grew 6% • Reported third quarter revenues of $1,739 million, up 15%, or up 6% organic 1 • Reported net income attributable to Ingersoll Rand Inc. of $208 million, or earnings of $0.51 per share ◦ Adjusted net income from continuing operations, net of tax 1 of $316 million, or $0.77 per share • Adjusted EBITDA 1 of $462 million, up 23%, with a margin of 26.5%, up 170 basis points year over year, and incremental margin of 38% • Reported operating cash flow from continuing operations of $397 million and free cash flow from continuing operations 1 of $369 mil

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accession 0001628280-23-036005

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