Ingersoll Rand Inc Q2 Profit Increases, beats estimates

(RTTNews) - Ingersoll Rand Inc (IR) announced a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $179.5 million, or $0.44 per share. This compares with $138.5 million, or $0.34 per share, in last year's second quarter.

Excluding items, Ingersoll Rand Inc reported adjusted earnings of $278.2 million or $0.68 per share for the period.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.4% to $1.69 billion from $1.44 billion last year.

Ingersoll Rand Inc earnings at a glance (GAAP) :

-Earnings (Q2): $179.5 Mln. vs. $138.5 Mln. last year. -EPS (Q2): $0.44 vs. $0.34 last year. -Analyst Estimate: $0.60 -Revenue (Q2): $1.69 Bln vs. $1.44 Bln last year.

-Guidance: Full year EPS guidance: $2.70 to $2.80