Welcome to our dedicated page for Ingersoll-Rand news (Ticker: IR), a resource for investors and traders seeking the latest updates and insights on Ingersoll-Rand stock.
Ingersoll Rand Inc. (NYSE: IR) is frequently in the news as a global provider of mission-critical flow creation and life science and industrial solutions. Its public updates highlight activity across its two main segments, Industrial Technologies and Services and Precision and Science Technologies, and provide insight into how the company manages growth, acquisitions, and financial performance.
News coverage for IR often includes quarterly earnings announcements, where the company reports orders, revenues, segment performance, and non-GAAP metrics such as Adjusted EBITDA and Free Cash Flow. These releases typically discuss trends in its Industrial Technologies and Services business, which offers compressor, vacuum, blower, air treatment, and industrial technologies, and its Precision and Science Technologies segment, which focuses on precision liquid, gas, air, and powder handling technologies for life sciences and industrial applications.
Investors and followers of IR can also expect transaction and portfolio news. Recent examples include bolt-on acquisitions such as Scinomix, which designs and manufactures automation technologies for lab workflows, Dave Barry Plastics, which provides plastic product solutions for life science and healthcare technology clean rooms, and Transvac Systems Ltd., a supplier of ejector solutions and sustainable process technologies used to move, mix, and compress fluids and gases. These announcements describe how each acquisition fits into either the Life Sciences platform within Precision and Science Technologies or the Industrial Technologies and Services segment.
In addition, IR issues updates on corporate governance and capital allocation, such as board appointments, regular quarterly dividends, and share repurchase activity, as well as notices about upcoming earnings calls and participation in investor and healthcare conferences. For readers tracking IR stock and company developments, this news page aggregates these updates in one place, making it easier to follow financial results, strategic moves, and governance changes over time.
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Ingersoll Rand is set to acquire Pedro Gil Construcciones Mecánicas for approximately $30 million, enhancing its presence in the Spanish market with a notable brand that generates $15 million in annual revenue. Concurrently, the company has acquired Westwood Technical, expanding its Industrial Internet of Things (IIoT) offerings through the innovative Aircom technology platform. These strategic acquisitions aim to bolster Ingersoll Rand's product portfolio and operational capabilities, with expected EBITDA multiples decreasing significantly over the next few years.
Ingersoll Rand Inc. (NYSE: IR) has announced key investor events scheduled for September 2022. Vicente Reynal (Chairman and CEO) and Vik Kini (CFO) will participate in a fireside chat at the Vertical Research Partners Global Industrials Conference on September 7, 2022, at 1:20 PM ET. Additionally, they, along with Mike Weatherred (SVP, IRX), will be at the Morgan Stanley 10th Annual Laguna Conference on September 15, 2022, at 8:10 AM PT. Investors can access a live audio webcast of the latter event on the Ingersoll Rand Investor Relations website.
Ingersoll Rand reported strong second-quarter 2022 results, with record orders of $1,599 million and revenues of $1,440 million, marking an increase of 10% and 13%, respectively. Net income reached $139 million, or $0.34 per share, while adjusted EBITDA rose 15% to $335 million. The company raised its 2022 revenue growth guidance to 11%-13% and reaffirmed its EBITDA range of $1,395 million to $1,425 million. Ingersoll Rand also made three acquisitions and repurchased shares worth $153 million.
Ingersoll Rand Inc. (NYSE:IR) appointed Mark Stevenson and Michael Stubblefield to its Board of Directors on July 28, 2022. Stevenson, former COO of Thermo Fisher Scientific, brings extensive experience in sustainable markets and machine learning systems. Stubblefield, CEO of Avantor, has led successful product innovations and M&A strategies. Chairman Vicente Reynal expressed confidence that their expertise aligns with Ingersoll Rand's growth objectives in sustainable sectors and innovative technologies.
The Board of Directors of Ingersoll Rand (NYSE: IR) has declared a quarterly cash dividend of $0.02 per share, payable on September 21, 2022, to stockholders of record on August 17, 2022. This decision underscores the company's commitment to providing returns to its shareholders while maintaining strong operational performance across its mission-critical flow creation and industrial solutions.
Ingersoll Rand (NYSE:IR) has announced the acquisition of Holtec Gas Systems, Hanye, and Hydro Prokav for approximately $35 million. This move enhances its air treatment capabilities, opening a $1B addressable market and strengthens its position in the progressive cavity pump sector. Holtec, based in Missouri, has an annual revenue of $10 million, while Hanye in China generates about $4 million. Hydro Prokav, from India, contributes roughly $6 million in revenue, with significant aftermarket sales.
Ingersoll Rand Inc. (NYSE: IR) is set to release its second-quarter 2022 earnings after market close on August 3, 2022. A live conference call to discuss these results will occur on August 4, 2022, at 8 a.m. Eastern Time. Interested participants can join through the listed phone numbers or via a webcast on the company's Investor Relations website. A replay will also be available post-conference for those unable to attend live.
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