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Sep 30, 2023
Ingersoll Rand Q3 2023 Earnings Report
Ingersoll Rand's Q3 2023 results were marked by record revenues and raised full year guidance.
Key Takeaways
Ingersoll Rand reported a strong third quarter with a 15% increase in revenue to $1.739 billion and a 23% increase in adjusted EBITDA to $462 million. The company raised its full-year guidance for total revenue growth, organic revenue growth, Adjusted EBITDA, and Adjusted EPS.
Orders were $1,638 million, a decrease of 1% (8% organic decrease).
Revenue was $1,739 million, a 15% increase (6% organic increase).
Net income attributable to Ingersoll Rand Inc. was $208 million, or $0.51 per share.
Adjusted EBITDA was $462 million, a 23% increase, with a margin of 26.5%.
Revenue by Segment
Forward Guidance
Ingersoll Rand raised its full-year 2023 guidance for total revenue growth to a range of 14% to 16%, organic revenue growth to a range of 9% to 11%, Adjusted EBITDA to a range of $1,730 to $1,770 million, and Adjusted EPS to a range of $2.81 to $2.89.
Positive Outlook
- Total revenue growth raised to 14-16%.
- Organic revenue growth raised to 9-11%.
- Adjusted EBITDA raised to $1,730-$1,770 million.
- Adjusted EPS raised to $2.81-$2.89.
- Continued strong commercial and operational performance expected.
Challenges Ahead
- Reconciliations of non-GAAP measures related to full-year 2023 guidance have not been provided.
- High variability, complexity and uncertainty with respect to forecasting and quantifying certain amounts that are necessary for such reconciliations.
- Unable to address the probable significance of the unavailable information.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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