Ingersoll-Rand (IR) Tops Q1 EPS by 3c; Reaffirms FY14 Outlook

Ingersoll-Rand (NYSE: IR) reported Q1 EPS of $0.29, $0.03 better than the analyst estimate of $0.26. Revenue for the quarter came in at $2.7 billion versus the consensus estimate of $2.72 billion.

Ingersoll-Rand reiterated FY2014 EPS of $3.05-$3.20, versus the consensus of $3.14.

"We delivered strong operating performance in the first quarter, achieving adjusted EPS above the top end of our guidance range with a 32 percent year-over-year increase,” said Michael W. Lamach, chairman and chief executive officer. “The effective application of our growth strategy and continuing use of our business operating system to guide our operational excellence efforts contributed to the first quarter year-over-year margin expansion of 60 basis points. These results, coupled with our balanced capital allocation strategy, further demonstrate our efforts to enhance shareholder returns while continuing to invest in the long-term success of our business.”

For earnings history and earnings-related data on Ingersoll-Rand (IR) click here.

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