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Dec 31, 2022
Ingersoll Rand Q4 2022 Earnings Report
Ingersoll Rand had a strong performance driven by its competitive differentiator - Ingersoll Rand Execution Excellence (IRX).
Key Takeaways
Ingersoll Rand reported record fourth quarter and full year 2022 results. The company's Q4 revenue was $1,624 million, up 14%, and adjusted EBITDA was $420 million, up 23%.
Reported fourth quarter orders of $1,484 million, down 1%, or up 2% organic
Reported fourth quarter revenues of $1,624 million, up 14%, or 19% organic
Adjusted EBITDA of $420 million, up 23%, with a margin of 25.9%, up 180 basis points year over year, and incremental margin of 38%
Reported operating cash flow from continuing operations of $355 million and free cash flow from continuing operations of $321 million
Revenue by Segment
Forward Guidance
Ingersoll Rand is establishing full-year 2023 guidance based on expected continued strong demand trends and operational execution in 2023.
Positive Outlook
- Full-year 2023 revenue growth expected to be 7% to 9%
- H1 2023 Revenue Growth: 9-11%
- H2 2023 Revenue Growth: 4-6%
- 2023 Adjusted EBITDA of $1,570 to $1,630 million, up 9% to 14% over prior year
- 2023 Adjusted EPS expected to be in a range of $2.48 to $2.58, up 5% to 9% over prior year
Challenges Ahead
- FX Impact: (~1%)
- H1 2023 FX Impact: (2-4%)
- H2 2023 FX Impact: +1-3%
- Corporate Costs: (~$140M)
- Reconciliations of non-GAAP measures related to full-year 2023 guidance have not been provided
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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