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 reported record financial results for Q3 2021, with orders of $1,498 million, up 37% year-over-year, and revenues reaching $1,325 million, a 19% increase. Net income soared by 327% to $126 million, translating to $0.30 per share. The company also raised its 2021 guidance, forecasting high teens revenue growth and Adjusted EBITDA between $1.175 billion and $1.195 billion. Key acquisitions included Air Dimensions and Tuthill Pumps, bolstering its strategic growth. With $3.1 billion in liquidity, Ingersoll Rand maintains a strong financial position and capital allocation strategy.
Ingersoll Rand's Hydrogen Systems Group, part of the Precision and Science Technologies Segment, has signed a long-term supply agreement with Hiringa Refuelling NZ to provide hydrogen refuelling stations across New Zealand. Hiringa has placed orders for four high-capacity stations, which are scheduled for delivery in 2022. This collaboration aims to establish a nationwide green hydrogen network to support heavy transport. Hiringa plans to deploy over 24 refuelling stations within the next 4-5 years, enhancing the infrastructure for zero-emission transport in New Zealand.
Ingersoll Rand (NYSE:IR) has announced an all-cash acquisition of Tuthill Corporation’s Pump Group for $84.6 million, expected to close in Q4. This purchase extends Ingersoll Rand's portfolio of precision pumps, enhancing its reach in high-growth markets like life sciences, food and beverage, and wastewater treatment. The acquisition is anticipated to lower adjusted EBITDA purchase multiples to mid-single digits by year three and create substantial synergies, driving shareholder value.
Ingersoll Rand has announced the acquisition of Air Dimensions for $70.5 million, aligning with its capital allocation strategy focused on high-growth sectors. The transaction, set to close on October 29, 2021, aims to enhance Ingersoll Rand's product portfolio and expand its market reach in sustainable applications. Air Dimensions, based in Deerfield Beach, Florida, reported $11 million in annual revenues for 2021, with significant adjusted EBITDA margins. The acquisition is expected to result in meaningful synergies and is viewed as a strategic move for future growth.
The Board of Directors of Ingersoll Rand (NYSE: IR) has declared a quarterly cash dividend of $0.02 per share, marking the company's inaugural dividend under its new program. This dividend will be payable on December 17, 2021, to stockholders recorded by November 10, 2021. This announcement follows their capital allocation strategy presentation on September 2, 2021, highlighting a commitment to returning value to shareholders.
Ingersoll Rand Inc. (NYSE:IR) will host a virtual investor and analyst meeting on November 18 at 8 a.m. ET. CEO Vicente Reynal and CFO Vikram Kini will present the company’s long-term growth strategy, market technologies, and capital allocation priorities, emphasizing Ingersoll Rand Execution Excellence (IRX) and ESG initiatives. The event will be accessible via a live webcast, with a replay available post-event. For more details, visit the Ingersoll Rand Investor Relations website.
Ingersoll Rand Inc. (NYSE: IR) will release its third-quarter earnings on November 3, 2021, after the market closes. A live conference call is scheduled for November 4, 2021, at 8 a.m. Eastern Time to discuss the results. Investors can join the call by dialing 1-844-200-6205 or accessing a real-time audio webcast on Ingersoll Rand's Investor Relations website. A replay will be available post-conference. Ingersoll Rand is known for providing mission-critical industrial solutions across over 40 brands.
Ingersoll Rand Inc. (NYSE:IR) invites investors and analysts to a strategic discussion on November 18, 2021, at 8 a.m. ET in Boston and via webcast. The event will cover the company's long-term growth strategy, capital allocation, and sustainable competitive advantages, including Ingersoll Rand Execution Excellence (IRX) and ESG initiatives. Presentations will be led by CEO Vicente Reynal and CFO Vikram Kini, along with senior management. Further details will be provided closer to the event date.
Ingersoll Rand Inc. (NYSE:IR) has announced it will not participate in the strategic alternatives process of SPX FLOW, Inc. (NYSE:FLOW) initiated on July 26, 2021. The company emphasized its commitment to a comprehensive capital allocation strategy focused on mergers and acquisitions (M&A). A capital allocation strategy call is planned for September 2, 2021, at 8 a.m. Eastern Time to provide further insights. The company aims to enhance growth through a robust M&A funnel.
Ingersoll Rand Inc. (NYSE:IR) announced a comprehensive capital allocation strategy aiming for long-term value creation and enhanced stockholder returns. The company generated nearly $2 billion from recent divestitures, which will support ongoing transformation efforts. Key elements include a newly approved $0.02 quarterly dividend program and a $750 million share repurchase program. The company maintains a target net leverage ratio of 2.0x, emphasizing M&A as a critical growth avenue.