Ingersoll-Rand Q1 Profit Rises; Lifts FY Profit View

(RTTNews) - Ingersoll-Rand plc (IR) reported that its net earnings attributable to the company for the first-quarter rose to $199.9 million or $0.82 per share from $120.4 million or $0.48 per share last year.

Earnings per share from continuing operations were $0.82 for the first quarter of 2019. Adjusted continuing earnings per share of $0.89 excluded restructuring costs of $17 million primarily related to ongoing footprint optimization and acquisition related transaction costs of $2 million.

Net revenues for the quarter rose to $3.58 billion from $3.38 billion last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.80 per share and revenues of $3.50 billion. Analysts' estimates typically exclude special items.

The company raised its full-year 2019 earnings per share from continuing guidance to approximately $6.10 from the prior range of $5.90 to $6.10. Full year adjusted continuing earnings per share guidance is raised from $6.15 to $6.35 to approximately $6.35. Analysts expect annual earnings of $6.31 per share.