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Ingersoll-Rand profit misses consensus by 17.7% in Q1

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Ingersoll-Rand profit misses consensus by 17.7% in Q1

Ingersoll-Rand PLC said its first-quarter normalized net income was 43 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS climbed 5.6% year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $114.1 million, a gain of 6.2% from $107.5 million in the year-earlier period.

The normalized profit margin climbed to 3.8% from 3.7% in the year-earlier period.

Total revenue grew on an annual basis to $3.00 billion from $2.89 billion, and total operating expenses climbed year over year to $2.75 billion from $2.66 billion.

Reported net income fell from the prior-year period to $123.4 million, or 47 cents per share, from $125.4 million, or 48 cents per share.