Ingersoll Rand Inc Q4 Profit Decreases, but beats estimates

(RTTNews) - Ingersoll Rand Inc (IR) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $217.4 million, or $0.53 per share. This compares with $293.0 million, or $0.71 per share, in last year's fourth quarter.

Excluding items, Ingersoll Rand Inc reported adjusted earnings of $294.9 million or $0.72 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.1% to $1.62 billion from $1.42 billion last year.

Ingersoll Rand Inc earnings at a glance (GAAP) :

-Earnings (Q4): $217.4 Mln. vs. $293.0 Mln. last year. -EPS (Q4): $0.53 vs. $0.71 last year. -Analyst Estimates: $0.62 -Revenue (Q4): $1.62 Bln vs. $1.42 Bln last year.