Ingersoll-Rand Q1 Adj. EPS Up 31%, Confirms FY15 Outlook

(RTTNews) - Ingersoll-Rand plc (IR), a diversified industrial company, Thursday announced first quarter net earnings attributable to the company of $51.3 million or $0.19 per share, down from $79 million or $0.28 per share last year. On an adjusted basis, earnings were up 31 percent at $0.38 per share, compared to $0.22 per share from prior year. Adjusted result excluded restructuring, a charge for currency devaluation in Venezuela and acquisition-related inventory step-up costs.

On average, 21 analysts polled by Thomson Reuters expected the company to earn $0.32 per share. Analysts estimates usually exclude special items.

Revenues increased 6 percent to $2.888 billion from $2.723 billion last year. Excluding acquisition and currency, revenue increased 8 percent compared with a year ago. Street expectation was $2.83 billion.

The company reaffirmed its outlook for 2015 and expects full-year 2015 organic revenue as well as reported revenue in the range of 4 to 5 percent, compared with 2014. Full-year adjusted earnings from continuing operations are expected to be in the range of $3.66 to $3.81, with full-year reported continuing earnings per share expected to be $3.42 to $3.60. Restructuring expenses are expected to approximate $0.02 to $0.05 per share.

For full year 2015, analysts expects earnings of $3.74 per share on revenue of $13.41 billion.

For the second-quarter, organic revenues are expected to increase in the range of 5 to 6 percent, while reported revenues are expected to be up 4 to 5 percent, compared with 2014.

Adjusted earnings per share from continuing operations for the second-quarter are expected to be in the range of $1.18 to $1.22 with reported earnings per share of $1.14 to $1.18. Restructuring expenses are expected to approximate $0.01 per share. Street forecast for the second quarter is $1.25 per share on revenue of $3.66 billion.