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Ingersoll-Rand profit misses consensus by 18.3% in Q2

Ingersoll-Rand PLC said its normalized net income for the second quarter was $1.19 per share, compared with the S&P Capital IQ consensus estimate of $1.46 per share.

EPS rose 10.4% year over year from $1.08.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $309.0 million, a gain of 9.6% from $281.9 million in the year-earlier period.

The normalized profit margin increased to 7.9% from 7.6% in the year-earlier period.

Total revenue climbed 6.0% year over year to $3.91 billion from $3.69 billion, and total operating expenses rose 5.5% year over year to $3.35 billion from $3.18 billion.

Reported net income fell 53.5% from the prior-year period to $350.6 million, or $1.35 per share, from $753.4 million, or $2.88 per share.