Ingersoll-Rand (IR) Tops Q2 EPS by 2c; Boosts FY EPS Outlook

Ingersoll-Rand (NYSE: IR) reported Q2 EPS of $1.13, $0.02 better than the analyst estimate of $1.11. Revenue for the quarter came in at $3.5 billion versus the consensus estimate of $3.55 billion.

Ingersoll-Rand raised FY2014 EPS of $3.18-$3.26, ex-items, versus the consensus of $3.22.

“We are pleased to have delivered on our earnings, revenue and margin improvement commitments in the second quarter, particularly with our adjusted EPS at a 22 percent year-over-year increase,” said Michael W. Lamach, chairman and chief executive officer. “Our discipline and focus on growth, in coordination with ongoing productivity efforts, achieved adjusted operating leverage of 47 percent and strong revenue and order increases over last year. As we move into the second half of 2014, we are increasing our 2014 earnings forecast. We feel good about our positioning and our focus to deliver on our commitments to our customers and our shareholders.”

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

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