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. reports developments tied to its mission-critical flow creation, life science and industrial solutions portfolio. Company news commonly covers operating results, order and revenue trends, segment performance, and regular capital-return actions such as cash dividends.
Updates also include bolt-on acquisitions that expand technologies within areas such as metering and dosing, compression, blower and vacuum, and fluid management. Recent acquisition activity added hydropneumatic accumulators, pulsation dampeners, calibration pots and instrumentation to the Precision and Science Technologies segment. Other recurring announcements address sustainability recognition, investor conference participation, governance matters and business outlook commentary.
Ingersoll Rand Inc. (NYSE:IR) has announced a donation of up to $100,000 to La Escuelita Bilingual Preschool, with $20,000 committed for 2022 and continuing for the next four years. This initiative aims to support scholarships for children from low-income families, pay teachers, and enhance educational outcomes for Spanish-speaking children in the Lake Norman area. The partnership highlights Ingersoll Rand's commitment to community equity and educational improvement.
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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.