Ingersoll-Rand plc Earnings: Profit Swings Up and Beats Forecast

S&P 500 (NYSE:SPY) component Ingersoll-Rand plc (NYSE:IR) reported its results for the first quarter. Ingersoll-Rand provides products and services to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables and commercial properties.

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Ingersoll-Rand plc Earnings Cheat Sheet for the First Quarter

Results: Reported a profit of $95.6 million (31 cents per diluted share) in the quarter. Ingersoll-Rand plc had a net loss of $77.6 million or a loss 21 cents per share in the year-earlier quarter.

Revenue: Fell 3.8% to $3.15 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Ingersoll-Rand plc beat the mean analyst estimate of 25 cents per share. It beat the average revenue estimate of $3.04 billion.

Quoting Management: “During the first quarter, we made progress toward our growth and operational excellence objectives, delivering revenue and EPS above forecast in a difficult economic environment,” said Michael W. Lamach, chairman, president and CEO. “While we expect continued challenges throughout 2012 from a slow and uneven recovery in some key markets, our focus is on continuing to grow revenue, earnings and cash flow.”

Key Stats:

For three consecutive quarters, the company has topped analyst estimates. It beat the mark by 9 cents in the fourth quarter of the last fiscal year and by 2 cents in the third quarter of the last fiscal year.

Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the second quarter has moved up from 95 cents a share to 97 cents over the last ninety days. The average estimate for the fiscal year is $3.04 per share, down from $3.14 ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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