Ingersoll Rand Q1 2024 Adj EPS $0.78 Beats $0.69 Estimate, Sales $1.670B Miss $1.700B Estimate
Portfolio Pulse from Benzinga Newsdesk
Ingersoll Rand (NYSE:IR) reported Q1 2024 adjusted earnings of $0.78 per share, surpassing the $0.69 estimate, marking a 20% increase from last year. However, its sales of $1.670 billion fell short of the $1.700 billion estimate, a 2.50% increase from the previous year.
May 02, 2024 | 8:32 pm
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Ingersoll Rand reported a Q1 2024 adjusted EPS of $0.78, beating estimates, with a 20% YOY increase, but missed sales estimates with $1.670B, a 2.5% YOY increase.
The positive earnings beat suggests operational efficiency and profitability, which could positively influence investor sentiment. However, the sales miss indicates potential challenges in revenue growth, creating a mixed short-term outlook. The net impact is neutral as the positive earnings are offset by the slight disappointment in sales.
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IMPORTANCE 90
RELEVANCE 100