Ingersoll-Rand Lifts 2016 Profit View

(RTTNews) - Ingersoll-Rand plc (IR) said it increased guidance range for full-year 2016 earnings per share from continuing operations to $5.62 to $5.67 and adjusted earnings per share to $4.17 to $4.22. Previously, the company expected earnings from continuing operations of $5.47 to $5.57 and Adjusted earnings per share from continuing operations of $4.00 to $4.10 for 2016.

The company now projects revenues for 2016 to increase approximately 1 percent; organic revenues up 2 percent compared with 2015.

Looking ahead for the fourth-quarter, the company expects earnings per share from continuing operations to be in the range of $0.86 to $0.91.Adjusted earnings per shar from continuing operations of $0.88 to $0.93, excluding EPS of $0.02 for restructuring.

Both reported and organic revenues for fourth-quarter are expected to be flat to up 1 percent compared with 2015. The increase in fourth-quarter revenues for Climate is expected to be largely offset by a decline at Industrial due to difficult comparisons with last year.