Ingersoll-Rand (IR) Misses Q4 EPS by 8c

Ingersoll-Rand (NYSE: IR) reported Q4 EPS of $0.84, $0.08 worse than the analyst estimate of $0.92. Revenue for the quarter came in at $3.36 billion versus the consensus estimate of $3.35 billion.

"Fourth-quarter business segment operating performance was strong and the core business remains very healthy,” said Michael W. Lamach, chairman and chief executive officer. “Organic bookings were up more than 7 percent and organic revenues were up 2 percent with excellent full-year free cash flow of 121 percent of adjusted net income. Our Climate segment met our already high internal expectations with fourth-quarter bookings up 9 percent and revenues up 3 percent, while operating margins expanded 70 basis points. Our Industrial segment continued to make solid, steady progress, with fourth-quarter performance above our initial expectations. We fell short of our guidance range due to a number of negative items in the fourth quarter that, together, drove our results below our guidance. These items included higher-than-expected corporate costs, and a higher-than-forecast tax rate in the quarter.”

For earnings history and earnings-related data on Ingersoll-Rand (IR) click here.

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