Ingersoll Rand Lifts FY21 Outlook

(RTTNews) - Industrial equipment supplier Ingersoll Rand Plc (IR) on Wednesday raised its annual 2021 revenue growth and adjusted EBITDA outlook.

The company now expects revenue growth up in Mid-Teens from the earlier LDD. Adjusted EBITDA is now expected between $1.15-$1.18 billion from the earlier $1.12-$1.15 billion.

In the second quarter, the company posted earnings of $233.9 million or $0.55 per share, compared to a loss of $177.6 million or $0.43 per share in the same period last year.

Excluding items, Ingersoll-Rand reported adjusted earnings of $194.8 million or $0.46 per share for the period while analysts were looking for earnings per share of $0.42.

Quarterly revenues rose to $1.28 billion from $1.03 billion a year ago.