Looks like before items a 13 cent beat. Margins inmproving and they guided above the street for 08. Should be a 4-5% move higher today IMHO.
This stock is way to cheap, 2008 PE of like 9 and a forward PE of like 8.
IR has been on my watch list for several months now and I finally took a position yesterday. This was timely because I also had a 2 Trane system installed at home yesterday as well. The equipment is extremely high quality. I especially like the touch screen programmable thermostat that is removable and can be programmed from the comfort of ones chair. The acquisition of Trane is going to pay off big………$$$.
The news stories are very confused -- they can't decide if it was a beat.
Does anyone know? -- the street estimates of 88 cents: was that excluding items?
If so, the beat is HUGE: 15 cents, or more than 17 percent aboe estimates.
If the street estimates were not excluding items, then earnings were in-line (which is fine).
Excluding special items, IR's continuing operations produced profit of $1.03 a share. Analysts had expected 88 cents a share, according to a FactSet Research survey.
Ingersoll-Rand also affirmed its 2008 full-year forecast of $3.80 to $3.90 a share of earnings from continuing operations, excluding one-time items.
IR jumped nearly 8% in premarket trading to $38.80.