Ingersoll-Rand (IR) Tops Q1 EPS by 2c; Guides In-Line

Ingersoll-Rand (NYSE: IR) reported Q1 EPS of $0.42, $0.02 better than the analyst estimate of $0.40. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $3.16 billion.

Ingersoll-Rand sees FY2013 EPS of $3.45-3.65, versus the consensus of $3.61.

“In the first quarter, we realized solid results from our strategy to increase profitability and shareholder value, achieving a 14 percent year-over-year increase in adjusted EPS from continuing operations,” said Michael W. Lamach, chairman and chief executive officer. “We anticipate a continued macro-economic environment of low revenue growth throughout 2013. With that backdrop, we will continue to drive our operational excellence initiatives to improve margin, execute the planned new security company spinoff and make progress against our core initiatives. In addition, we continue to consistently deliver returns to shareholders, including the initiation of a $2 billion share repurchase program this month.”

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

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