ingersoll-rand plc (IR) Key Developments
Ingersoll-Rand plc Declares Quarterly Dividend, Payable September 30, 2015
Aug 7 15
Ingersoll-Rand plc announced that its board of directors declared a quarterly dividend of 29 cents per ordinary share. The dividend is payable September 30, 2015, to shareholders of record on September 11, 2015.
Ingersoll-Rand plc Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter of 2015; Reaffirms Earnings Guidance for the Full Year of 2015
Jul 28 15
Ingersoll-Rand plc reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net revenues were $3,600.2 million against $3,542.9 million a year ago. Operating income was $452.2 million against $463.3 million a year ago. Earnings before income taxes were $418.4 million against $418.9 million a year ago. Earnings from continuing operations were $87.0 million against $315.2 million a year ago. Net earnings attributable to Ingersoll-Rand plc were $79.9 million or $0.31 per diluted share against $306.0 million or $1.13 per diluted share a year ago. Adjusted operating income was $468.7 million. Adjusted earnings from continuing operations before income taxes were $434.9 million. Adjusted earnings from continuing operations were $324.4 million. Adjusted earnings per diluted share were $1.20. EBITDA was $561.5 million against $549.2 million a year ago.
The reported versus adjusted results, given a larger difference due to the impact of the tax agreement.
For the six months, net revenues were $6,488.0 million against $6,265.9 million a year ago. Operating income was $623.3 million against $618.3 million a year ago. Earnings before income taxes were $508.0 million against $524.0 million a year ago. Earnings from continuing operations were $149.7 million against $395.7 million a year ago. Net earnings attributable to Ingersoll-Rand plc were $130.2 million or $0.53 per diluted share against $384.9 million or $1.39 per diluted share a year ago. Adjusted operating income was $653.4 million against $627.2 million a year ago. Adjusted earnings from continuing operations before income taxes were $579.7 million against $532.9 million a year ago. Adjusted earnings from continuing operations were $426.1 million against $393.4 million a year ago. Adjusted earnings per diluted share were $1.58 against 1.41 a year ago. Net cash from operating activities of continuing operations was $183.7 million against $187.0 million a year ago. Net cash from operating activities was $170.0 million against $131.2 million a year ago. Capital expenditures were $115.3 million against $92.6 million a year ago.
Based on a forecast of slow-to-moderate growth in worldwide construction and retrofit markets, and recovering but slow industrial markets for the remainder of the year, the company reaffirms its full-year guidance range for 2015 revenues and for adjusted EPS. Organic revenues, which exclude currency and acquisitions, for the full-year 2015 are expected to increase in the range of 4% to 5%. Full-year reported revenues are also expected to increase in the range of 4% to 5% compared with 2014. Full-year adjusted EPS from continuing operations are expected to be in the range of $3.66 to $3.81 (which is unchanged from the prior guidance) with full-year reported continuing EPS expected to be $2.59 to $2.74, which now reflects the impact of the tax agreement as described on page three. The forecast includes a tax rate of 25% for continuing operations and an average diluted share count for the full year of approximately 270 million shares. Free cash flow for full-year 2015 is expected to be in the range of $950 million to one billion dollars before the $375 million net payment associated with the IRS as described on page three.
Third-quarter 2015 organic revenues are expected to increase in the range of 5% to 6% compared with 2014 and reported revenues are expected to be up 4% to 5%. Adjusted EPS from continuing operations for the third quarter of 2015 are expected to be in the range of $1.15 to $1.19, with reported EPS of $1.13 to $1.17. The third-quarter forecast reflects an ongoing tax rate of 25% for continuing operations and an average diluted share count of approximately 270 million shares.
Ingersoll Rand Introduces New UP6S Series Fixed Speed Rotary Screw Compressor Solution
Jul 22 15
Ingersoll Rand debuted the new UP6S Series 15-30 hp fixed speed rotary screw compressor. The UP6S Series builds on Ingersoll Rand’s commitment to reliability by adding several standard features to the unit, such as Progressive Adaptive Control™ (PAC) protection, O-ring face seals to reduce leak points and a Totally Enclosed Fan Cooled (TEFC) motor. The unit’s TEFC design reduces the risk of particulates entering the motor, while also keeping it cool, so the compressor can be used in harsh environments. Meanwhile, its NEMA® Type 4 rating allows it to be used indoors or outdoors, and the new Tri-Voltage motor enables it to adapt to a variety of applications. These features make the UP6S ideal for powering pneumatic tools and equipment of many types, from saws and spray painting guns to hoists and other tools, for use in industries from woodworking to metalworking and brewing to automotive repair. The airend, interconnecting piping and integral separation system are features of the UP6S Series 15-30 hp, which increase performance, reliability and ease of service. A high-efficiency compression module and O-ring face seals eliminate leaks and pressure loss. The UP6S Series also features spin-on filtration and separator cartridges to allow for easy maintenance. The compressor features a new Xe-70M controller that comes standard and makes operating the UP6S easier with simple diagnostics and remote start and stop access capabilities. The intuitive user interface and PAC software adapts and continuously monitors key operations, such as element conditions and system parameters, to maintain uptime and increase bearing life.
Ingersoll Rand Inc. Announces Nexia Home Intelligence Brand is Now Compatible with a Range of New Multi-Sensors
Jul 13 15
Ingersoll Rand Inc. has announced that its Nexia Home Intelligence brand is now compatible with a range of new multi-sensors. Multi-sensors add another dimension to Nexia-powered smart homes by combining their ability to detect a wide variety of inputs, including light, vibration, motion, temperature and humidity, while communicating with other smart products, including lighting, climate controls, locks and garage doors. The Z-Wave multi-sensors connect to Nexia and its ecosystem of products through the Nexia Bridge, which connects directly to a user's Wi-Fi router, bringing all Nexia-compatible smart products together on one network. The bridge enables the user to wirelessly connect and control hundreds of Z-Wave smart home products through one Nexia account for endless combinations of smart home functionality.
Ingersoll-Rand Plc to Report Q2, 2015 Results on Jul 28, 2015
Jun 29 15
Ingersoll-Rand Plc announced that they will report Q2, 2015 results at 10:00 AM, US Eastern Standard Time on Jul 28, 2015