Ingersoll (IR) Q4 Earnings In Sync, Offers Bullish 2018 View
Zacks Investment Research | Jan 30, 2018 08:53PM ET
Industrial goods manufacturer Ingersoll-Rand Plc (NYSE:IR) reported relatively healthy fourth-quarter 2017 results with adjusted earnings from continuing operations of $1.02 per share compared with 84 cents in the year-earlier quarter. The healthy year-over-year improvement in adjusted earnings was largely driven by top-line growth. Adjusted earnings were in sync with the Zacks Consensus Estimate.
GAAP earnings for the quarter were $459.9 million or $1.81 per share compared with $198.8 million or 75 cents per share in the year-ago period. The year-over-year increase in GAAP earnings was primarily attributable to non-cash tax-related benefits of $241.2 million (95 cents per share) related to U.S. tax legislation. For full year 2017, the company recorded GAAP earnings of $1,302.6 million or $5.05 per share compared with $1,476.2 million or $5.65 per share in 2016.
Quarterly revenues were $3,618.1 million, up from $3,358.8 million in the year-ago quarter. Revenues exceeded the Zacks Consensus Estimate of $3,516 million. Organic revenues improved 6% year over year. Organic revenues from North America were up 7% while that from International markets were up 4%. For full year 2017, revenues increased to $14,197.6 million from $13,508.9 million in 2016 on diligent execution of operational plans.
Ingersoll-Rand PLC (Ireland) Price, Consensus and EPS Surprise
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