Ingersoll-Rand reports Q1 EPS 65c, consensus 52c

Reports Q1 revenue $1.78B, consensus $1.48B. "We had a strong start in 2023, with another quarter of solid results and performance that exceeded our expectations despite the ongoing macroeconomic volatility. Our business continues to be resilient, driven by our team’s outstanding execution and our economic growth engine," said Vicente Reynal, CEO. "We remain guided by our five strategic imperatives, which enable Ingersoll Rand to be a premier earnings compounder. We continue to drive organic growth and unlock profitability by leveraging IRX and targeting our Demand Generation processes across the three mega trends of Sustainability, Digitization and Quality of Life. In addition, our M&A funnel remains healthy, and we are committed to delivering inorganic growth in a thoughtful, disciplined manner. Our operational excellence, strong balance sheet and increased liquidity give us the ability to deliver results and create value across economic cycles."