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Ingersoll-Rand Q1 profit climbs 36.8% YOY

Ingersoll-Rand PLC said its first-quarter normalized net income came to 29 cents per share, compared with the S&P Capital IQ consensus estimate of 32 cents per share.

EPS climbed 43.8% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $78.5 million, a gain of 36.8% from $57.4 million in the year-earlier period.

The normalized profit margin climbed to 2.7% from 2.1% in the year-earlier period.

Total revenue rose 6.1% year over year to $2.89 billion from $2.72 billion, and total operating expenses increased 5.8% on an annual basis to $2.72 billion from $2.57 billion.

Reported net income declined 22.5% on an annual basis to $59.1 million, or 22 cents per share, from $76.2 million, or 27 cents per share.