Will Ingersoll-Rand (IR) Surpass Q2 Earnings Estimates?
Zacks Investment Research | Jul 26, 2016 04:42AM ET
Industrial goods manufacturer Ingersoll-Rand Plc (NYSE:IR) is scheduled to report second-quarter 2016 results before the opening bell on Jul 27. In the last reported quarter, earnings beat the Zacks Consensus Estimate by 13 cents. Ingersoll has a fairly decent earnings surprise history. In the trailing four quarters, the company has managed to beat earnings estimates thrice with an average positive earnings surprise of 9.52%.
Let’s see how things are shaping up for this announcement.
Key Factors in the Past Quarter
Ingersoll has a solid foundation of global brands and leading market share in all major product lines. The geographic and product diversity coupled with a large installed product base provides ample growth opportunities within service, spare parts and replacement revenue streams. Additionally, the company’s complementary portfolio of products and services is likely to assist in strengthening its market position and achieving high productivity.
Also, the company’s strategic acquisitions would serve as growth drivers, supplementing organic growth. Furthermore, Ingersoll is likely to achieve steady improvements in operating profitability with a strong commitment to fund new product developments, investing in IT platform and building its channel services footprint and product management capabilities.
During the quarter, Ingersoll launched IQV20 W5132 3/8” Impactool – a powerful cordless 3/8” impact tool. This new tool delivers up to 50% more torque in comparison to other cordless 3/8” impact wrench. The rise in demand for such innovative product services is likely to augment its overall revenues going forward.
In the to-be-reported quarter, adjusted earnings from continuing operations are expected to be in the range of $1.27 to $1.32 per share, with reported earnings in the range of $2.75 to $2.80.
INGERSOLL RAND Price and EPS Surprise/h3
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