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Ingersoll-Rand meets 4Q profit forecasts

DUBLIN (AP) _ Ingersoll-Rand PLC (IR) on Wednesday reported fourth-quarter profit of $459.9 million.

The Dublin-based company said it had profit of $1.81 per share. Earnings, adjusted for one-time gains and costs, came to $1.02 per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of $1.02 per share.

The manufacturer posted revenue of $3.62 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $3.52 billion.

For the year, the company reported profit of $1.3 billion, or $5.05 per share. Revenue was reported as $14.2 billion.

Ingersoll-Rand expects full-year earnings in the range of $5 to $5.20 per share.

Ingersoll-Rand shares have increased roughly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 6 percent. The stock has climbed 16 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IR at https://www.zacks.com/ap/IR