Stock Monitor: Cummins Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 14, 2018 / Active-Investors.com has just released a free earnings report on Ingersoll-Rand PLC (NYSE: IR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=IR. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 31, 2018. The industrial goods manufacturer topped revenue estimates while earnings were in-line with market expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ingersoll-Rand most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended December 31, 2017, Ingersoll-Rand reported a strong bookings growth, up 10% to $3.56 billion on a y-o-y basis compared to bookings of $3.24 billion in Q4 2016.
Ingersoll-Rand reported net revenues of $3.62 billion in Q4 2017, up 8% compared to $3.34 billion in Q4 2016.
For the full year FY17, Ingersoll-Rand's net revenue grew 5% to $14.20 billion on a y-o-y basis compared to $13.51 billion in FY16, primarily driven by a strong growth in North American HVAC.
During Q4 2017, Ingersoll-Rand's operating margin increased 20 basis points to 10.7%, while adjusted operating margin grew 20 basis points to 11.1%, as positive price, higher volume, and productivity improvements were partially offset by material and other inflation.
For Q4 2017, Ingersoll-Rand reported a net income of $1.93 per share compared to $0.76 per diluted share in Q4 2016. The Company's adjusted continuing earnings totaled $1.02 per share for the reported quarter, up 21% compared to $0.84 per share in the year earlier same quarter. Ingersoll-Rand's adjusted earnings excluded non-cash tax-related benefits of $241.2 million, or $0.95 per share, related to the recently enacted United States tax legislation, and other discrete items and restructuring costs of $13.6 million, or $0.04 per share. Ingersoll-Rand's earnings numbers met Wall Street's estimates of $1.02 per share.
For FY17, Ingersoll-Rand reported a net income of $5.14 per share compared to $5.52 per diluted share in Q4 2016. The Company's adjusted continuing earnings totaled $4.51 per share for FY17, up 9% compared to $4.13 per share in FY17.
During Q4 2017, Ingersoll-Rand's Climate segment's bookings grew 9% to $2.73 billion on a y-o-y basis, while revenue advanced 8% to $2.76 billion compared to $2.56 billion in Q4 2016. The segment's operating margin decreased by 100 basis points to 12.6%, with an adjusted operating margin lower by 80 basis points at 12.9%, as higher revenue and productivity were more than offset by material inflation.
During Q4 2017, Ingersoll-Rand's Industrial segment's bookings advanced 15% to $834 million, while revenue gained 7% to $858 million compared to $800 million in Q4 2016. The segment's operating margin grew 220 basis points to 12.9%, while adjusted operating margin gained 160 basis points, at 13.2%, attributed to through driving mix to services, new product development, and cost reductions. The segment's Compression Technologies unit's bookings grew in mid-teens and organic bookings were up low-teens, driven by equipment order growth, while revenues were up in low-single digits.
For FY17, Ingersoll-Rand's free cash flow totaled $1.3 billion, equal to 118% of adjusted net income. The Company's cash flow return on invested capital (ROIC) was 21.2% for FY17.
During Q4 2017, Ingersoll-Rand repurchased 1.2 million shares for approximately $106 million. During FY17, the Company repurchased $1 billion, or 11.8 million shares. Ingersoll-Rand had approximately $460 million spent, or committed, over the last 12 months in acquisitions.
Outlook for FY18
For the full year FY18, Ingersoll-Rand is forecasting revenues to grow in the range of 5% to 5.5% on a y-o-y basis. The Company is expecting continuing earnings per share of $4.80 to $5.00, and adjusted earnings from continuing operations in the band of $5.00 to $5.20 per share. Ingersoll-Rand is expecting cash flow from operating activities of $1.45 billion to $1.55 billion, and free cash flow to be between $1.2 billion to $1.3 billion.
Stock Performance Snapshot
February 13, 2018 - At Tuesday's closing bell, Ingersoll-Rand's stock marginally declined 0.71%, ending the trading session at $90.26.
Volume traded for the day: 1.17 million shares.
Stock performance in the last three-month – up 6.24%; previous six-month period – up 5.06%; past twelve-month period – up 10.10%; and year-to-date – up 1.20%
After yesterday's close, Ingersoll-Rand's market cap was at $22.86 billion.
Price to Earnings (P/E) ratio was at 17.47.
The stock has a dividend yield of 1.99%.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 0.2% at the end of the session.
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