Ingersoll-Rand Q4 Profit Declines, Lifts FY16 EPS Outlook Range

(RTTNews) - Ingersoll-Rand Plc. (IR) Tuesday announced a decline in fourth quarter net income attributable to the company to $233.5 million from $255.5 million last year. On a per share basis, earnings decreased to $0.88 from $0.95 a year ago. Adjusted earnings per share from continuing operations was $0.94 per share.

On average, 21 analysts polled by Thomson Reuters expected the company to earn $0.93 per share. Analysts estimates usually exclude special items.

Revenue for the quarter rose to $3.325 billion from $3.240 billion a year ago. Organic revenue grew 3 percent, while total U.S. organic revenues were up 4 percent from the prior year. Wall Street was looking for $3.30 billion.

Looking ahead to the full year 2016, the company expects earnings per share from continuing operations in a range of $3.80 to $4.00, up 2 to 7 percent from last year. On a reported basis, earnings from continuing operations is expected to be $3.75 to $3.95 per share. Street expectations for the full year is $3.98 per share on revenue of $13.54 billion.

For the first quarter 2016, Adjusted earnings from continuing operations are expected to be in the range of $0.33 to $0.38 with reported earnings per share of $0.28 to $0.33, which includes earnings per share of $0.05 for restructuring. The first-quarter forecast reflects an average share count of approximately 265 million shares. Wall Street expects $0.40 per share on revenue of $2.88 billion.

Organic revenues are expected to increase in the range of 3 percent to 5 percent compared with 2015, with reported revenues expected to be in the range of flat to up 2 percent.