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Ingersoll-Rand profit misses consensus by 23.8% in Q3

Ingersoll-Rand PLC said its third-quarter normalized net income amounted to $1.09 per share, compared with the S&P Capital IQ consensus estimate of $1.43 per share.

EPS increased year over year from $1.07.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $279.1 million, compared with $280.7 million in the prior-year period.

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

Total revenue increased on an annual basis to $3.67 billion from $3.57 billion, and total operating expenses grew from the prior-year period to $3.15 billion from $3.05 billion.

Reported net income came to $361.9 million, or $1.41 per share, compared with $363.9 million, or $1.39 per share, in the year-earlier period.