Ingersoll Rand Q1 record revenue $1,670M; raises FY24 EBITDA, EPS guidance

Ingersoll Rand Inc.

2024-Q1 EPS reported $0.50 revenue$1,670,100,000

Q1 revenue $1,670M (+3% reported, -1% organic); record adjusted EBITDA $459M (27.5% margin, +290bps YoY).
Adjusted EPS $0.78; net income $202M ($0.50 GAAP EPS); free cash flow $99M down 33% YoY on capex timing.
Orders $1,707M (-4% reported); backlog near high levels with book-to-bill 1.02x; two-year stack rev +24%.
Board authorized $1B share repurchase increase; $143M deployed to M&A in Q1 (Controlled Fluidics, Ethafilter).
Raising FY24 adjusted EBITDA guidance to $1,940-$2,000M (+9-12% YoY) and adjusted EPS to $3.20-$3.30.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ingersoll Rand Inc. reported the quarter ended March 31, 2024 results: revenue $1,670 million, net income $202 million, EPS $0.50 per share. Guidance raised.

Period: the quarter ended March 31, 2024
Revenue: $1,670 million
Net income: $202 million
EPS: $0.50 per share
Guidance: raised
Result: reported results

Exact text from the filing

Excellence (IRX): • First quarter orders of $1,707 million, down 4%, or down 7% organic ◦ On a two-year stack, up 5%, or up 1% organic • Reported first quarter revenues of $1,670 million, up 3%, or down 1% organic 1 ◦ On a two-year stack, up 24%, or up 20% organic 1 • Reported net income attributable to Ingersoll Rand Inc. of $202 million, or earnings of $0.50

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accession 0001628280-24-020034

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