Ingersoll Rand (NYSE: IR) posts profit, raises 2026 EPS outlook to $3.45–$3.57
Rhea-AI Filing Summary
Ingersoll Rand Inc. reported second quarter 2026 revenue of $2,048.8 million, up from $1,887.9 million a year earlier. Net income attributable to Ingersoll Rand Inc. was $256.8 million, or $0.66 per diluted share, compared with a loss of $115.3 million, or $(0.29) per share, in the prior-year quarter. Adjusted net income attributable to Ingersoll Rand Inc. was $338.1 million and adjusted diluted EPS was $0.86, up from $323.7 million and $0.80. Adjusted EBITDA was $519.9 million versus $509.4 million, with a 25.4% margin.
The Industrial Technologies and Services segment generated $1,622.1 million of revenue and segment adjusted EBITDA of $434.5 million with a 26.8% margin, while Precision and Science Technologies delivered $426.7 million of revenue and $134.5 million of segment adjusted EBITDA, a 31.5% margin. Quarterly operating cash flow was $295.9 million and free cash flow was $268.9 million. As of June 30, 2026, liquidity totaled $3.8 billion, including $1.2 billion of cash and $2.6 billion of undrawn credit capacity, and net debt to adjusted EBITDA leverage was 1.7x.
The company deployed $110 million to acquisitions in the quarter, returned approximately $248 million to shareholders through $240 million of share repurchases and $8 million of dividends, and received a Moody’s credit rating upgrade to Baa1 in June 2026. It signed an agreement to acquire Fai Filtri s., expected to close in the fourth quarter of 2026, and expects to close the acquisition of a U.S.-based blower manufacturer on July 31, 2026. Updated full-year 2026 guidance calls for revenue growth of 4.5% to 6.5% versus 2025, adjusted EBITDA of $2,130 million to $2,190 million, adjusted EPS of $3.45 to $3.57, and free cash flow to adjusted net income conversion of about 95%.
Positive
- Return to profitability: Net income attributable to Ingersoll Rand Inc. was $256.8 million in Q2 2026 versus a $115.3 million loss in Q2 2025, reflecting a substantial improvement in bottom-line results.
- Credit upgrade: In June 2026 Moody’s upgraded Ingersoll Rand by one notch to Baa1, reinforcing its investment-grade status alongside $3.8 billion of liquidity and 1.7x net debt to adjusted EBITDA leverage.
Negative
- None.
Insights
Analyzing...
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Q2 2026 Revenue: $2,048.8 million
Q2 2026 Net Income Attributable: $256.8 million
Q2 2026 Adjusted EBITDA: $519.9 million
+5 more
8 metrics
Q2 2026 Revenue
$2,048.8 million
For the three month period ended June 30, 2026; up from $1,887.9 million in Q2 2025
Q2 2026 Net Income Attributable
$256.8 million
Net income attributable to Ingersoll Rand Inc. in Q2 2026 vs $(115.3) million in Q2 2025
Q2 2026 Adjusted EBITDA
$519.9 million
Adjusted EBITDA in Q2 2026 with a 25.4% adjusted EBITDA margin
Q2 2026 Free Cash Flow
$268.9 million
Free cash flow for the three month period ended June 30, 2026 vs $210.4 million in Q2 2025
Liquidity
$3.8 billion
As of June 30, 2026, including $1.2 billion of cash and $2.6 billion undrawn credit facilities
Net Debt to Adjusted EBITDA
1.7x
Net debt to adjusted EBITDA leverage for the second quarter 2026, flat year over year
2026 Adjusted EBITDA Guidance
$2,130–$2,190 million
Full-year 2026 adjusted EBITDA guidance range
2026 Adjusted EPS Guidance
$3.45–$3.57
Full-year 2026 adjusted diluted EPS guidance, expected near high end
Key Terms
Adjusted EBITDA, Free Cash Flow, Organic Revenue Growth/(Decline), Net debt to Adjusted EBITDA leverage, +1 more
5 terms
Adjusted EBITDA financial
"Adjusted EBITDA1 of $520 million, up 2%, with a margin of 25.4%"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Free Cash Flow financial
"Reported operating cash flow of $296 million and free cash flow1 of $269 million"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Organic Revenue Growth/(Decline) financial
"Ingersoll Rand reviews various non-GAAP financial measures, including “Organic Revenue Growth/(Decline)”"
Net debt to Adjusted EBITDA leverage financial
"Net debt to Adjusted EBITDA leverage2 was 1.7x for the second quarter"
Net debt to adjusted EBITDA leverage is a ratio that divides a company's net debt (total borrowings minus cash and cash equivalents) by its adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, with one‑time or nonrecurring items removed). It shows how many years of that operating cash‑proxy would be needed to repay net debt, serving as a simple yardstick of financial leverage, credit risk and covenant pressure — like comparing a mortgage size to annual household income.
Incrementals/Decrementals financial
"Incrementals/Decrementals are defined as the change in Adjusted EBITDA versus the prior year period"
Earnings Snapshot
Revenue: $2,048.8 million · Guidance included
Quarter ended June 30, 2026
Revenue
$2,048.8 million
Increased from $1,887.9 million in the second quarter of 2025
Net income attributable to Ingersoll Rand Inc.
$256.8 million
Compared with a $(115.3) million loss in the second quarter of 2025
Adjusted EBITDA
$519.9 million
Up from $509.4 million in the second quarter of 2025
Adjusted diluted EPS
$0.86
Up from $0.80 in the second quarter of 2025
Free cash flow
$268.9 million
Up from $210.4 million in the second quarter of 2025
Guidance
For full-year 2026, guidance includes revenue growth of 4.5%–6.5% versus 2025, adjusted EBITDA of $2,130–$2,190 million, adjusted EPS of $3.45–$3.57, and free cash flow to adjusted net income conversion of about 95% with CAPEX around 2% of sales.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did Ingersoll Rand (IR) perform financially in Q2 2026?
In Q2 2026, Ingersoll Rand (IR) generated $2,048.8 million in revenue and net income attributable to Ingersoll Rand Inc. of $256.8 million, or $0.66 per diluted share, compared with a $115.3 million loss and $(0.29) per share a year earlier.
What were Ingersoll Rand (IR)’s key non-GAAP results for Q2 2026?
For Q2 2026, Ingersoll Rand (IR) reported adjusted EBITDA of $519.9 million with a 25.4% margin and adjusted net income attributable of $338.1 million. Adjusted diluted EPS was $0.86, up from $0.80 in the prior-year quarter.
How did Ingersoll Rand (IR)’s segments perform in Q2 2026?
In Q2 2026, Industrial Technologies and Services delivered $1,622.1 million of revenue and $434.5 million of segment adjusted EBITDA with a 26.8% margin. Precision and Science Technologies reported $426.7 million of revenue and $134.5 million of segment adjusted EBITDA, a 31.5% margin.
What is Ingersoll Rand (IR)’s liquidity and leverage position as of June 30, 2026?
As of June 30, 2026, Ingersoll Rand (IR) had $3.8 billion of liquidity, including $1.2 billion of cash and $2.6 billion of undrawn credit facilities. Net debt to adjusted EBITDA leverage was 1.7x, flat versus the prior-year quarter.
What capital allocation actions did Ingersoll Rand (IR) take in Q2 2026?
In Q2 2026, Ingersoll Rand (IR) deployed $110 million to M&A and returned about $248 million to shareholders through $240 million of share repurchases and $8 million in dividends, while generating quarterly free cash flow of $268.9 million.
What 2026 guidance did Ingersoll Rand (IR) provide?
For full-year 2026, Ingersoll Rand (IR) guides to revenue growth of 4.5%–6.5%, adjusted EBITDA of $2,130–$2,190 million, adjusted EPS of $3.45–$3.57 (expected near the high end), and free cash flow to adjusted net income conversion of about 95%.
What acquisitions did Ingersoll Rand (IR) announce around Q2 2026?
Ingersoll Rand (IR) spent $110 million on M&A in Q2 2026 and announced an agreement to acquire Fai Filtri s., expected to close in Q4 2026, plus an expected July 31, 2026 closing for a U.S.-based blower manufacturer.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): July 30, 2026
(Exact Name of Registrant as Specified in Its Charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(704 ) 655-4000
(Address, including zip code, of principal executive offices and registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company | |||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On July 30, 2026, Ingersoll Rand, Inc. (“Ingersoll Rand”) issued a press release announcing financial results for the quarter ended June 30, 2026. A copy of the release is furnished herewith as Exhibit 99.1 and incorporated by reference herein.
The information in this Current Report on Form 8-K, including exhibits, is being furnished to the Securities and Exchange Commission (the “SEC”) pursuant to Item 2.02 of Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of Ingersoll Rand’s filings with the SEC under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
| Exhibit No. | Description | ||||
99.1 | Ingersoll Rand Inc. Press Release dated July 30, 2026 | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INGERSOLL RAND INC. | ||||||||
By: | /s/ Andrew Schiesl | |||||||
Name: Andrew Schiesl | ||||||||
Title: Senior Vice President, General Counsel, Chief Compliance Officer, and Secretary | ||||||||
| Date: July 30, 2026 | ||||||||
 | ||
Ingersoll Rand Reports Second Quarter 2026 Results
Strong organic growth momentum
Second Quarter 2026 Highlights
(All comparisons against the second quarter of 2025 unless otherwise noted).
Performance driven by its competitive differentiator - Ingersoll Rand Execution Excellence (IRX):
•Reported orders of $2,043 million, up 5%
•Reported revenues of $2,049 million, up 9%
•Reported net income attributable to Ingersoll Rand Inc. of $257 million, $0.66 per share
◦Adjusted net income attributable to Ingersoll Rand Inc.1 of $339 million, $0.86 per share, up 7%
•Adjusted EBITDA1 of $520 million, up 2%, with a margin of 25.4%
•Reported operating cash flow of $296 million and free cash flow1 of $269 million
•Liquidity of $3.8 billion as of June 30, 2026, including $1.2 billion of cash on hand and undrawn capacity of $2.6 billion under available credit facilities
DAVIDSON, N.C. - July 30, 2026 - Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and life science and industrial solutions, reported its results for the second quarter 2026.
"Our second quarter results reflect strong organic growth and solid Adjusted EPS1 performance, driven by the strength of our portfolio and the consistent execution by our teams," said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. "Order momentum continues to build, reinforcing our confidence in delivering on our full-year commitments as we remain focused on staying agile, and driving durable, long-term growth."
Second Quarter 2026 Segment Review
(All comparisons against the second quarter of 2025 unless otherwise noted.)
Industrial Technologies and Services Segment (IT&S): Broad range of compressor, vacuum, blower, and air treatment solutions as well as industrial technologies including power tools and lifting equipment
•Reported Orders of $1,621 million, up 4%, or approximately flat organic
•Reported Revenues of $1,622 million, up 9%, or up 4% organic1
•Reported Segment Adjusted EBITDA of $435 million, up 2%
•Reported Segment Adjusted EBITDA Margin of 26.8%, down 180 basis points
•IT&S saw positive organic revenue growth in all regions in the quarter, with a book to bill of 1.0x. Organic order growth was flat, with healthy compressor activity particularly in North America, offset by the timing of long cycle project orders in the blower and vacuum business in Europe as well as the ongoing impact from the Middle East. Overall compressor orders were up low single digits globally. Adjusted EBITDA margin was down year over year, driven largely by challenges in offsetting inflationary impacts with price primarily in China as well as continued commercial investments for growth.
Precision and Science Technologies Segment (P&ST): Mission-critical precision liquid, gas, air, and powder handling technologies for life sciences and industrial applications as well as aerospace and defense applications
•Reported Orders of $422 million, up 11%, or up 7% organic
•Reported Revenues of $427 million, up 8%, or up 4% organic1
•Reported Segment Adjusted EBITDA of $135 million, up 15%
•Reported Segment Adjusted EBITDA Margin of 31.5%, up 200 basis points
1 Non-GAAP measure (definitions and/or reconciliations in tables below)
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•P&ST saw strong demand in the second quarter, with organic orders up 7%, including low double-digit growth in Life Sciences and mid single-digit growth in Precision Technologies. Adjusted EBITDA margin finished at 31.5%, which was up 200 basis points year over year, driven by strong operational execution fueled by IRX.
Balance Sheet and Cash Flow
Ingersoll Rand remains in a strong financial position with ample liquidity of $3.8 billion. On a reported basis, the Company generated $296 million of cash flow from operating activities and invested $27 million in capital expenditures, resulting in free cash flow1 of $269 million, compared to cash flow from operating activities of $246 million and free cash flow1 of $210 million in the prior year period. Net debt to Adjusted EBITDA leverage2 was 1.7x for the second quarter, which was flat as compared to the second quarter of the prior year.
In June 2026, the Company received a one notch upgrade from Moody’s to Baa1, further solidifying its investment grade status.
In the second quarter of 2026, Ingersoll Rand deployed $110 million to M&A, including for the previously announced acquisition of Fox s.r.l. The Company also returned approximately $248 million to shareholders through $240 million in share repurchases and $8 million through its quarterly dividend payment in the second quarter.
Ingersoll Rand today announced the signing of the acquisition of Fai Filtri s.r.l., a leading manufacturer of high-performance industrial filters. The transaction is expected to close in Q4 20263. Additionally, the Company expects to close on the acquisition of a U.S.-based blower manufacturer on July 31, 2026.
2026 Guidance4,5,6,7
Ingersoll Rand is updating its full-year 2026 guidance.
| Guidance Metric | Full Year 2026 | Full Year Assumptions | ||||||
Revenue Growth4 | 4.5% to 6.5% | •Currency6: ~+1% •M&A7: ~+2.5% •Organic growth4: +1% to +3% •Revenue phasing: 1H 48% | 2H 52% | ||||||
Adjusted EBITDA5 | $2,130M - $2,190M | •Corporate costs: ~$170M •Adjusted EBITDA phasing: 1H 46% | 2H 54% | ||||||
Adjusted EPS5 | $3.45 to $3.57 Expected to finish near the high end of the range | •Net interest expense: ~$230M •Adjusted tax rate: ~22% •Share count: ~391.5M •Adjusted EPS phasing: 1H 46% | 2H 54% | ||||||
Free Cash Flow5 to Adj. Net Income conversion | ~95% | •CAPEX: ~2% of sales | ||||||
•The phasing of Revenue, Adjusted EBITDA, and Adjusted EPS is consistent with prior years.
Reconciliations of non-GAAP measures related to full-year 2026 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations due to the high variability, complexity and uncertainty with respect to forecasting and quantifying certain amounts that are necessary for such reconciliations, including net income (loss) and adjustments that could be made for acquisitions-related expenses, restructuring and other business transformation costs, gains or
2 Calculated as Net Debt to LTM Adjusted EBITDA
3 The completion of the Transaction is subject to the fulfillment or waiver of certain Conditions Precedents and to compliance with any applicable information and consultation procedure with trade unions
4 All revenue outlook commentary expressed in percentages and based on growth as compared to 2025
5 Non-GAAP measure (definitions in tables below)
6 Based on June 2026 FX rates; does not include impact of FX on M&A
7 Reflects all completed and closed M&A as of July 31, 2026
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losses on foreign currency exchange and the timing and magnitude of other amounts in the reconciliation of historic numbers. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.
Conference Call
Ingersoll Rand will host a live earnings conference call to discuss the second quarter results on Friday, July 31, 2026 at 8:00 a.m. (Eastern Time). To participate in the call, please dial 1-888-330-3073, domestically, or 1-646-960-0683, internationally, and use access Code 8970061. A real-time audio webcast of the presentation can be accessed via the Events and Presentations section of the Ingersoll Rand Investor Relations website (https://investors.irco.com), where related materials will be posted prior to the conference call. A replay of the webcast will be available after conclusion of the conference and can be accessed on the Ingersoll Rand Investor Relations website.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to the expectations of Ingersoll Rand Inc. (the “Company” or “Ingersoll Rand”), regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “target,” “endeavor,” “seek,” “predict,” “intend,” “strategy,” “plan,” “may,” “could,” “should,” “will,” “would,” “will be,” “on track to” “will continue,” “will likely result,” “guidance” or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements other than historical facts are forward-looking statements.
These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) adverse impact on our operations and financial performance due to geopolitical tensions, natural disaster, catastrophe, global pandemics, cyber events, or other events outside of our control; (2) unexpected costs, charges or expenses resulting from completed and proposed business combinations; (3) uncertainty of the expected financial performance of the Company; (4) failure to realize the anticipated benefits of completed and proposed business combinations; (5) the ability of the Company to implement its business strategy; (6) difficulties and delays in achieving revenue and cost synergies; (7) inability of the Company to retain and hire key personnel; (8) evolving legal, regulatory and tax regimes; (9) changes in general economic and/or industry specific conditions; (10) actions by third parties, including government agencies; and (11) other risk factors detailed in Ingersoll Rand’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in its periodic filings with the SEC, which are available on the SEC’s website at http://www.sec.gov. The foregoing list of important factors is not exclusive.
Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE: IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit IRCO.com.
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Non-U.S. GAAP Measures of Financial Performance
In addition to consolidated GAAP financial measures, Ingersoll Rand reviews various non-GAAP financial measures, including “Organic Revenue Growth/(Decline),” “Adjusted EBITDA,” “Adjusted EBITDA Margin,” “Adjusted Net Income,” “Adjusted Net Income Attributable to Ingersoll Rand, Inc.,” “Adjusted Diluted EPS,” “Free Cash Flow” and “Free Cash Flow Margin.”
Ingersoll Rand believes Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income Attributable to Ingersoll Rand, Inc., and Adjusted Diluted EPS are helpful supplemental measures to assist management and investors in evaluating the Company’s operating results as they exclude certain items that are unusual in nature or whose fluctuation from period to period do not necessarily correspond to changes in the operations of Ingersoll Rand’s business. Ingersoll Rand believes Organic Revenue Growth/(Decline) is a helpful supplemental measure to assist management and investors in evaluating the Company’s operating results as it excludes the impact of foreign currency and acquisitions on revenue growth. Adjusted EBITDA represents net income before interest, taxes, depreciation, amortization and certain non-cash, non-recurring and other adjustment items. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by Revenue. Adjusted Net Income is defined as net income including interest, depreciation and amortization of non-acquisition related intangible assets and excluding other items used to calculate Adjusted EBITDA and further adjusted for the tax effect of these exclusions. Adjusted Net Income Attributable to Ingersoll Rand, Inc., is defined as Adjusted Net Income less net income attributable to noncontrolling interest. Adjusted Diluted EPS is defined as Adjusted Net Income divided by Adjusted Diluted Average Shares Outstanding. Organic Revenue Growth/(Decline) is defined as As Reported Revenue growth less the impacts of Foreign Currency and Acquisitions. Ingersoll Rand believes that the adjustments applied in presenting Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income Attributable to Ingersoll Rand, Inc. are appropriate to provide additional information to investors about certain material non-cash items and about non-recurring items that the Company does not expect to continue at the same level in the future. Incrementals/Decrementals are defined as the change in Adjusted EBITDA versus the prior year period divided by the change in revenue versus the prior year period.
Ingersoll Rand uses Free Cash Flow and Free Cash Flow Margin to review the liquidity of its operations. Ingersoll Rand measures Free Cash Flow as cash flows from operating activities less capital expenditures. Free Cash Flow Margin is defined as Free Cash Flow divided by Revenue. Ingersoll Rand believes Free Cash Flow and Free Cash Flow Margin are useful supplemental financial measures for management and investors in assessing the Company’s ability to pursue business opportunities and investments and to service its debt. Free Cash Flow is not a measure of our liquidity under GAAP and should not be considered as an alternative to cash flows from operating activities.
Management and Ingersoll Rand’s board of directors regularly use these measures as tools in evaluating the Company’s operating and financial performance and in establishing discretionary annual compensation. Such measures are provided in addition to and should not be considered to be a substitute for, or superior to, the comparable measures under GAAP. In addition, Ingersoll Rand believes that Organic Revenue Growth/(Decline), Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income Attributable to Ingersoll Rand, Inc., Adjusted Diluted EPS, Incrementals/Decrementals, Free Cash Flow and Free Cash Flow Margin are frequently used by investors and other interested parties in the evaluation of issuers, many of which also present Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income Attributable to Ingersoll Rand, Inc., Adjusted Diluted EPS, Free Cash Flow and Free Cash Flow Margin when reporting their results in an effort to facilitate an understanding of their operating and financial results and liquidity.
Organic Revenue Growth/(Decline), Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income Attributable to Ingersoll Rand, Inc., Adjusted Diluted EPS, Free Cash Flow and Free Cash Flow Margin should not be considered as alternatives to revenue growth, net income, diluted earnings per share or any other performance measure derived in accordance with GAAP, or as alternatives to cash flow from operating activities as a measure of our liquidity. Organic Revenue Growth/(Decline), Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income Attributable to Ingersoll Rand, Inc., Adjusted Diluted EPS, Free Cash Flow and Free Cash Flow Margin have limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing Ingersoll Rand’s results as reported under GAAP.
Reconciliations of Organic Revenue Growth/(Decline), Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Net Income Attributable to Ingersoll Rand, Inc., Adjusted Diluted EPS, Free Cash Flow and Free Cash Flow Margin to their most comparable U.S. GAAP financial metrics for historical periods are presented in the tables below.
Reconciliations of non-GAAP measures related to full-year 2026 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations due to the high variability, complexity and uncertainty with respect to forecasting and quantifying certain amounts that are necessary for such reconciliations, including net income (loss) and
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adjustments that could be made for acquisitions-related expenses, restructuring and other business transformation costs, gains or losses on foreign currency exchange and the timing and magnitude of other amounts in the reconciliation of historic numbers. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.
Due to rounding, numbers presented throughout this release may not sum precisely to the totals provided and percentages may not precisely reflect the absolute figures.
| Contacts: | |||||
| Investor Relations: | Media: | ||||
| Max Vorcheimer | Sara Hassell | ||||
| Max.Vorcheimer@irco.com | Sara.Hassell@irco.com | ||||
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INGERSOLL RAND INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited; in millions, except per share amounts)
| For the Three Month Period Ended June 30, | For the Six Month Period Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Revenues | $ | 2,048.8 | $ | 1,887.9 | $ | 3,896.0 | $ | 3,604.7 | |||||||||||||||
| Cost of sales | 1,186.2 | 1,063.0 | 2,241.0 | 2,014.3 | |||||||||||||||||||
| Gross Profit | 862.6 | 824.9 | 1,655.0 | 1,590.4 | |||||||||||||||||||
| Selling and administrative expenses | 400.8 | 371.2 | 771.5 | 721.2 | |||||||||||||||||||
| Amortization of intangible assets | 102.6 | 91.6 | 210.1 | 182.9 | |||||||||||||||||||
| Impairment of goodwill | — | 229.7 | — | 229.7 | |||||||||||||||||||
| Impairment of other intangible assets | — | 36.1 | — | 36.1 | |||||||||||||||||||
| Other operating expense (income), net | (21.1) | 19.9 | 3.4 | 41.6 | |||||||||||||||||||
| Operating Income | 380.3 | 76.4 | 670.0 | 378.9 | |||||||||||||||||||
| Interest expense | 63.3 | 62.7 | 127.1 | 123.9 | |||||||||||||||||||
| Other income, net | (10.1) | (14.4) | (14.1) | (26.2) | |||||||||||||||||||
| Income Before Income Taxes | 327.1 | 28.1 | 557.0 | 281.2 | |||||||||||||||||||
| Provision for income taxes | 69.1 | 21.0 | 105.2 | 79.5 | |||||||||||||||||||
| Loss on equity method investments | — | (120.9) | — | (127.1) | |||||||||||||||||||
| Net Income (Loss) | 258.0 | (113.8) | 451.8 | 74.6 | |||||||||||||||||||
| Less: Net income attributable to noncontrolling interests | 1.2 | 1.5 | 2.9 | 3.4 | |||||||||||||||||||
| Net Income (Loss) Attributable to Ingersoll Rand Inc. | $ | 256.8 | $ | (115.3) | $ | 448.9 | $ | 71.2 | |||||||||||||||
| Basic earnings (loss) per share | 0.66 | (0.29) | 1.15 | 0.18 | |||||||||||||||||||
| Diluted earnings (loss) per share | 0.66 | (0.29) | 1.15 | 0.18 | |||||||||||||||||||
6
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INGERSOLL RAND INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited; in millions, except share amounts)
| June 30, 2026 | December 31, 2025 | ||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 1,173.5 | $ | 1,248.8 | |||||||
Accounts receivable, net of allowance for credit losses of $65.0 and $66.8, respectively | 1,514.8 | 1,518.0 | |||||||||
Inventories | 1,233.0 | 1,172.9 | |||||||||
Other current assets | 367.8 | 308.3 | |||||||||
Total current assets | 4,289.1 | 4,248.0 | |||||||||
Property, plant and equipment, net of accumulated depreciation of $743.0 and $689.6, respectively | 907.1 | 930.3 | |||||||||
Goodwill | 8,541.9 | 8,484.1 | |||||||||
Other intangible assets, net | 4,072.3 | 4,240.3 | |||||||||
Deferred tax assets | 44.1 | 38.7 | |||||||||
Other assets | 339.6 | 355.8 | |||||||||
Total assets | $ | 18,194.1 | $ | 18,297.2 | |||||||
Liabilities and Stockholders' Equity | |||||||||||
Current liabilities: | |||||||||||
Short-term borrowings and current maturities of long-term debt | $ | 699.8 | $ | 1.4 | |||||||
Accounts payable | 911.4 | 996.1 | |||||||||
Accrued liabilities | 1,043.2 | 1,068.8 | |||||||||
Total current liabilities | 2,654.4 | 2,066.3 | |||||||||
Long-term debt, less current maturities | 4,068.7 | 4,783.3 | |||||||||
Pensions and other postretirement benefits | 127.3 | 134.2 | |||||||||
Deferred income tax liabilities | 712.5 | 696.9 | |||||||||
Other liabilities | 388.2 | 462.5 | |||||||||
Total liabilities | $ | 7,951.1 | $ | 8,143.2 | |||||||
Stockholders’ equity: | |||||||||||
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 432,922,423 and 431,753,302 shares issued as of June 30, 2026 and December 31, 2025, respectively | 4.3 | 4.3 | |||||||||
Capital in excess of par value | 9,748.7 | 9,699.9 | |||||||||
| Retained earnings | 3,486.3 | 3,053.1 | |||||||||
| Accumulated other comprehensive loss | (213.7) | (148.3) | |||||||||
Treasury stock at cost; 44,927,534 and 40,631,613 shares as of June 30, 2026 and December 31, 2025, respectively | (2,848.3) | (2,519.2) | |||||||||
Total Ingersoll Rand stockholders’ equity | $ | 10,177.3 | $ | 10,089.8 | |||||||
Noncontrolling interests | 65.7 | 64.2 | |||||||||
Total stockholders’ equity | $ | 10,243.0 | $ | 10,154.0 | |||||||
Total liabilities and stockholders’ equity | $ | 18,194.1 | $ | 18,297.2 | |||||||
7
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INGERSOLL RAND INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited; in millions)
| Six Month Period Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash Flows From Operating Activities: | |||||||||||
| Net income | $ | 451.8 | $ | 74.6 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Amortization of intangible assets | 210.1 | 182.9 | |||||||||
| Depreciation | 59.6 | 57.6 | |||||||||
| Impairment of goodwill and other intangible assets | — | 265.8 | |||||||||
| Stock-based compensation expense | 33.7 | 30.9 | |||||||||
| Loss on equity method investments | — | 127.1 | |||||||||
| Foreign currency transaction losses, net | 4.9 | 12.8 | |||||||||
| Non-cash adjustments to carrying value of LIFO inventories | 11.6 | 10.3 | |||||||||
| Other non-cash adjustments | 3.1 | 4.8 | |||||||||
| Changes in assets and liabilities: | |||||||||||
| Receivables | 5.3 | 38.3 | |||||||||
| Inventories | (76.7) | (86.0) | |||||||||
| Accounts payable | (68.3) | (44.2) | |||||||||
| Accrued liabilities | (39.5) | (50.6) | |||||||||
| Other assets and liabilities, net | (100.0) | (122.2) | |||||||||
| Net cash provided by operating activities | 495.6 | 502.1 | |||||||||
| Cash Flows Used In Investing Activities: | |||||||||||
| Capital expenditures | (63.3) | (69.0) | |||||||||
| Net cash paid in acquisitions | (162.0) | (210.4) | |||||||||
| Proceeds from disposals of property, plant and equipment | 5.0 | — | |||||||||
| Net cash used in investing activities | (220.3) | (279.4) | |||||||||
| Cash Flows Used In Financing Activities: | |||||||||||
| Purchases of treasury stock, including excise tax payments | (338.8) | (510.7) | |||||||||
| Cash dividends on common shares | (15.7) | (16.1) | |||||||||
| Proceeds from stock option exercises | 17.7 | 9.1 | |||||||||
| Payments of deferred and contingent acquisition consideration | (5.8) | (2.8) | |||||||||
| Other financing | (1.5) | (2.6) | |||||||||
| Net cash used in financing activities | (344.1) | (523.1) | |||||||||
| Effect of exchange rate changes on cash and cash equivalents | (6.5) | 69.8 | |||||||||
| Net decrease in cash and cash equivalents | (75.3) | (230.6) | |||||||||
| Cash and cash equivalents, beginning of period | 1,248.8 | 1,541.2 | |||||||||
| Cash and cash equivalents, end of period | $ | 1,173.5 | $ | 1,310.6 | |||||||
8
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INGERSOLL RAND INC. AND SUBSIDIARIES
UNAUDITED ADJUSTED FINANCIAL INFORMATION
(Dollars in millions)
| For the Three Month Period Ended June 30, | For the Six Month Period Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Revenues | $ | 2,048.8 | $ | 1,887.9 | $ | 3,896.0 | $ | 3,604.7 | |||||||||||||||
| Adjusted EBITDA | $ | 519.9 | $ | 509.4 | $ | 989.0 | $ | 969.1 | |||||||||||||||
| Adjusted EBITDA Margin | 25.4 | % | 27.0 | % | 25.4 | % | 26.9 | % | |||||||||||||||
| Free Cash Flow | $ | 268.9 | $ | 210.4 | $ | 432.3 | $ | 433.1 | |||||||||||||||
| Free Cash Flow Margin | 13.1 | % | 11.1 | % | 11.1 | % | 12.0 | % | |||||||||||||||
9
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INGERSOLL RAND INC. AND SUBSIDIARIES
RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED NET INCOME AND ADJUSTED NET INCOME ATTRIBUTABLE TO INGERSOLL RAND INC. AND ADJUSTED DILUTED EARNINGS PER SHARE
(Unaudited; in millions)
| For the Three Month Period Ended June 30, | For the Six Month Period Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net Income (Loss) | $ | 258.0 | $ | (113.8) | $ | 451.8 | $ | 74.6 | |||||||||||||||
| Plus: | |||||||||||||||||||||||
| Provision for income taxes | 69.1 | 21.0 | 105.2 | 79.5 | |||||||||||||||||||
| Amortization of acquisition related intangible assets | 100.4 | 89.1 | 205.6 | 178.1 | |||||||||||||||||||
| Impairment of goodwill and other intangible assets | — | 265.8 | — | 265.8 | |||||||||||||||||||
| Restructuring and related business transformation costs | 3.2 | 3.4 | 11.9 | 8.8 | |||||||||||||||||||
| Acquisition and other transaction related expenses and non-cash charges, net | (2.7) | 11.8 | 10.9 | 21.6 | |||||||||||||||||||
| Stock-based compensation | 17.8 | 16.7 | 33.7 | 30.9 | |||||||||||||||||||
| Foreign currency transaction losses, net | 2.7 | 6.0 | 4.9 | 12.8 | |||||||||||||||||||
| Loss on equity method investments | — | 120.9 | — | 127.1 | |||||||||||||||||||
| Adjustments to LIFO inventories | 6.2 | 7.3 | 11.6 | 10.3 | |||||||||||||||||||
| Cybersecurity incident costs | — | (1.1) | — | (1.3) | |||||||||||||||||||
| Recovery of acquisition related losses, net | (25.0) | — | (25.0) | — | |||||||||||||||||||
| Other adjustments | 0.9 | (1.6) | (0.2) | (3.8) | |||||||||||||||||||
| Minus: | |||||||||||||||||||||||
| Income tax provision, as adjusted | 91.3 | 100.3 | 166.5 | 186.0 | |||||||||||||||||||
| Adjusted Net Income | 339.3 | 325.2 | 643.9 | 618.4 | |||||||||||||||||||
| Less: Net income attributable to noncontrolling interest | 1.2 | 1.5 | 2.9 | 3.4 | |||||||||||||||||||
| Adjusted Net Income Attributable to Ingersoll Rand Inc. | $ | 338.1 | $ | 323.7 | $ | 641.0 | $ | 615.0 | |||||||||||||||
Adjusted Basic Earnings Per Share1 | $ | 0.87 | $ | 0.81 | $ | 1.65 | $ | 1.53 | |||||||||||||||
Adjusted Diluted Earnings Per Share2 | $ | 0.86 | $ | 0.80 | $ | 1.64 | $ | 1.52 | |||||||||||||||
| Average shares outstanding: | |||||||||||||||||||||||
| Basic, as reported | 389.9 | 400.5 | 389.3 | 401.8 | |||||||||||||||||||
| Diluted, as reported | 391.9 | 400.5 | 391.7 | 404.9 | |||||||||||||||||||
Adjusted diluted2 | 391.9 | 403.3 | 391.7 | 404.9 | |||||||||||||||||||
1 Basic and diluted earnings per share (as reported) are calculated by dividing net income attributable to Ingersoll Rand Inc. by the basic and diluted average shares outstanding for the respective periods.
2 Adjusted diluted share count and adjusted diluted earnings per share include incremental dilutive shares, using the treasury stock method, which are added to average shares outstanding.
10
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INGERSOLL RAND INC. AND SUBSIDIARIES
RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA AND ADJUSTED NET INCOME AND CASH FLOWS FROM OPERATING ACTIVITIES TO FREE CASH FLOW
(Unaudited; in millions)
| For the Three Month Period Ended June 30, | For the Six Month Period Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net Income (Loss) | $ | 258.0 | $ | (113.8) | $ | 451.8 | $ | 74.6 | |||||||||||||||
| Plus: | |||||||||||||||||||||||
| Interest expense | 63.3 | 62.7 | 127.1 | 123.9 | |||||||||||||||||||
| Provision for income taxes | 69.1 | 21.0 | 105.2 | 79.5 | |||||||||||||||||||
| Depreciation expense | 29.3 | 27.6 | 57.6 | 55.2 | |||||||||||||||||||
| Amortization expense | 102.6 | 91.6 | 210.1 | 182.9 | |||||||||||||||||||
| Impairment of goodwill and other intangible assets | — | 265.8 | — | 265.8 | |||||||||||||||||||
| Restructuring and related business transformation costs | 3.2 | 3.4 | 11.9 | 8.8 | |||||||||||||||||||
| Acquisition and other transaction related expenses and non-cash charges, net | (2.7) | 11.8 | 10.9 | 21.6 | |||||||||||||||||||
| Stock-based compensation | 17.8 | 16.7 | 33.7 | 30.9 | |||||||||||||||||||
| Foreign currency transaction losses, net | 2.7 | 6.0 | 4.9 | 12.8 | |||||||||||||||||||
| Loss on equity method investments | — | 120.9 | — | 127.1 | |||||||||||||||||||
| Adjustments to LIFO inventories | 6.2 | 7.3 | 11.6 | 10.3 | |||||||||||||||||||
| Cybersecurity incident costs | — | (1.1) | — | (1.3) | |||||||||||||||||||
| Recovery of acquisition related losses, net | (25.0) | — | (25.0) | — | |||||||||||||||||||
| Interest income on cash and cash equivalents | (5.5) | (8.9) | (10.6) | (19.2) | |||||||||||||||||||
| Other adjustments | 0.9 | (1.6) | (0.2) | (3.8) | |||||||||||||||||||
| Adjusted EBITDA | $ | 519.9 | $ | 509.4 | $ | 989.0 | $ | 969.1 | |||||||||||||||
| Minus: | |||||||||||||||||||||||
| Interest expense | 63.3 | 62.7 | 127.1 | 123.9 | |||||||||||||||||||
| Income tax provision, as adjusted | 91.3 | 100.3 | 166.5 | 186.0 | |||||||||||||||||||
| Depreciation expense | 29.3 | 27.6 | 57.6 | 55.2 | |||||||||||||||||||
| Amortization of non-acquisition related intangible assets | 2.2 | 2.5 | 4.5 | 4.8 | |||||||||||||||||||
| Interest income on cash and cash equivalents | (5.5) | (8.9) | (10.6) | (19.2) | |||||||||||||||||||
| Adjusted Net Income | $ | 339.3 | $ | 325.2 | $ | 643.9 | $ | 618.4 | |||||||||||||||
| Free Cash Flow: | |||||||||||||||||||||||
| Cash flows from operating activities | $ | 295.9 | $ | 245.7 | $ | 495.6 | $ | 502.1 | |||||||||||||||
| Minus: | |||||||||||||||||||||||
| Capital expenditures | 27.0 | 35.3 | 63.3 | 69.0 | |||||||||||||||||||
| Free Cash Flow | $ | 268.9 | $ | 210.4 | $ | 432.3 | $ | 433.1 | |||||||||||||||
11
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INGERSOLL RAND INC. AND SUBSIDIARIES
RECONCILIATION OF SEGMENT ADJUSTED EBITDA TO NET INCOME (LOSS)
(Unaudited; in millions)
| For the Three Month Period Ended June 30, | For the Six Month Period Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Orders | |||||||||||||||||||||||
| Industrial Technologies and Services | $ | 1,620.7 | $ | 1,560.9 | $ | 3,178.6 | $ | 3,047.9 | |||||||||||||||
| Precision and Science Technologies | 422.2 | 378.7 | 842.3 | 774.0 | |||||||||||||||||||
| Total Orders | $ | 2,042.9 | $ | 1,939.6 | $ | 4,020.9 | $ | 3,821.9 | |||||||||||||||
| Revenue | |||||||||||||||||||||||
| Industrial Technologies and Services | $ | 1,622.1 | $ | 1,491.6 | $ | 3,066.6 | $ | 2,843.7 | |||||||||||||||
| Precision and Science Technologies | 426.7 | 396.3 | 829.4 | 761.0 | |||||||||||||||||||
| Total Revenue | $ | 2,048.8 | $ | 1,887.9 | $ | 3,896.0 | $ | 3,604.7 | |||||||||||||||
| Segment Adjusted EBITDA | |||||||||||||||||||||||
| Industrial Technologies and Services | $ | 434.5 | $ | 427.2 | $ | 820.0 | $ | 816.3 | |||||||||||||||
| Precision and Science Technologies | 134.5 | 116.8 | 256.4 | 223.0 | |||||||||||||||||||
| Total Segment Adjusted EBITDA | $ | 569.0 | $ | 544.0 | $ | 1,076.4 | $ | 1,039.3 | |||||||||||||||
| Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes: | |||||||||||||||||||||||
| Corporate expenses not allocated to segments | $ | 49.1 | $ | 34.6 | $ | 87.4 | $ | 70.2 | |||||||||||||||
| Interest expense | 63.3 | 62.7 | 127.1 | 123.9 | |||||||||||||||||||
| Depreciation and amortization expense | 131.9 | 119.2 | 267.7 | 238.1 | |||||||||||||||||||
| Impairment of goodwill and other intangible assets | — | 265.8 | — | 265.8 | |||||||||||||||||||
| Restructuring and related business transformation costs | 3.2 | 3.4 | 11.9 | 8.8 | |||||||||||||||||||
| Acquisition and other transaction related expenses and non-cash charges, net | (2.7) | 11.8 | 10.9 | 21.6 | |||||||||||||||||||
| Stock-based compensation | 17.8 | 16.7 | 33.7 | 30.9 | |||||||||||||||||||
| Foreign currency transaction losses, net | 2.7 | 6.0 | 4.9 | 12.8 | |||||||||||||||||||
| Adjustments to LIFO inventories | 6.2 | 7.3 | 11.6 | 10.3 | |||||||||||||||||||
| Cybersecurity incident costs | — | (1.1) | — | (1.3) | |||||||||||||||||||
| Recovery of acquisition related losses, net | (25.0) | — | (25.0) | — | |||||||||||||||||||
| Interest income on cash and cash equivalents | (5.5) | (8.9) | (10.6) | (19.2) | |||||||||||||||||||
| Other adjustments | 0.9 | (1.6) | (0.2) | (3.8) | |||||||||||||||||||
| Income Before Income Taxes | 327.1 | 28.1 | 557.0 | 281.2 | |||||||||||||||||||
| Provision for income taxes | 69.1 | 21.0 | 105.2 | 79.5 | |||||||||||||||||||
| Loss on equity method investments | — | (120.9) | — | (127.1) | |||||||||||||||||||
| Net Income (Loss) | $ | 258.0 | $ | (113.8) | $ | 451.8 | $ | 74.6 | |||||||||||||||
12
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INGERSOLL RAND INC. AND SUBSIDIARIES
ORDERS AND REVENUE GROWTH BY SEGMENT1
| For the Three Month Period Ended June 30, 2026 | |||||||||||
| Orders | Revenue | ||||||||||
| Ingersoll Rand | |||||||||||
| Organic growth | 1.6 | % | 4.1 | % | |||||||
| Impact of foreign currency | 1.3 | % | 1.6 | % | |||||||
| Impact of acquisitions | 2.4 | % | 2.8 | % | |||||||
| Total orders and revenue growth | 5.3 | % | 8.5 | % | |||||||
| Industrial Technologies & Services | |||||||||||
| Organic growth | 0.1 | % | 4.2 | % | |||||||
| Impact of foreign currency | 1.4 | % | 1.7 | % | |||||||
| Impact of acquisitions | 2.3 | % | 2.8 | % | |||||||
| Total orders and revenue growth | 3.8 | % | 8.7 | % | |||||||
| Precision & Science Technologies | |||||||||||
| Organic growth | 7.4 | % | 3.9 | % | |||||||
| Impact of foreign currency | 1.0 | % | 0.9 | % | |||||||
| Impact of acquisitions | 3.1 | % | 2.9 | % | |||||||
| Total orders and revenue growth | 11.5 | % | 7.7 | % | |||||||
1 Organic growth/(decline), impact of foreign currency, and impact of acquisitions are non-GAAP measures. References to “impact of acquisitions” refer to GAAP sales from acquired businesses recorded prior to the first anniversary of the acquisition. The portion of GAAP revenue attributable to currency translation is calculated as the difference between (a) the period-to-period change in revenue (excluding acquisition sales) and (b) the period-to-period change in revenue (excluding acquisition sales) after applying prior year foreign exchange rates to the current year period.
13