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Mar 31, 2021
Ingersoll Rand Q1 2021 Earnings Report
Reported record double-digit organic orders and organic revenue growth.
Key Takeaways
Ingersoll Rand reported a strong first-quarter performance in 2021, driven by the transformative power of IRX. The company saw a 17% increase in revenues and a 29% increase in orders, with organic growth of 12% and 24% respectively. The company is raising its 2021 full year guidance.
Reported revenues of $1.4 billion, up 95%, and up 17% (12% organically) as compared to prior year supplemental adjusted revenues
Reported orders of $1.7 billion, up 124%, and up 29% (24% organically) as compared to prior year supplemental adjusted orders
Adjusted EBITDA of $293 million, up 57% from prior year supplemental adjusted EBITDA of $186 million, with a margin of 21.4%
Reported operating cash flow from continuing operations of $123 million and free cash flow from continuing operations of $108 million
Revenue by Segment
Forward Guidance
Ingersoll Rand is raising its full-year 2021 revenue growth and Adjusted EBITDA guidance, excluding SVT.
Positive Outlook
- Raising full-year 2021 revenue growth expectation, excluding SVT, to low double digits (up approximately 200 bps of organic growth from initial guidance)
- Raising adjusted EBITDA guidance, excluding SVT, to $1.12 billion to $1.15 billion (up approximately $45 million from initial guidance midpoint)
- Continued strong performance in 2021
- Strong orders momentum, driven by record demand for consumer vehicles as well as growth in golf, commercial and aftermarket product offerings
- Core industrial end markets saw continued strong demand with orders up 17% as compared to prior year supplemental adjusted orders, including positive momentum across all major regions
Challenges Ahead
- Impact on the Company’s business, suppliers and customers and global economic conditions of the COVID-19 pandemic
- Unexpected costs, charges or expenses resulting from the Transaction
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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