Ingersoll-Rand Reports Lower Q3 Profit On Charges - Quick Facts

(RTTNews) - Ingersoll-Rand plc (IR) reported third-quarter net income to company of $165.9 million or $0.56 per share, compared to $321.6 million or $1.03 per share, last year. Results for the third quarter of 2013 included $173 million, or $0.59 per share related to: restructuring and one-time charges related to the spin-off of the security business; impairment charges related to security operations in the European region; and the redemption premium expense for early debt retirement. The prior year quarter included $2 million of restructuring costs equal to $0.01 per share.

Adjusted income from continuing operations was $341.7 million or $1.16 per share for the quarter.

On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $1.10 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $3.75 billion, from $3.59 billion, a year ago. Analysts expected revenue of $3.73 billion for the quarter.

The company expects its fourth-quarter revenues to be in the range of $3.5 billion to $3.6 billion. Adjusted earnings per share from continuing operations is expected to be in the range of $0.85 to $0.90, with reported earnings per share in the range of $0.45 to $0.50 including security business spinoff and restructuring costs expected to be approximately $0.40 per share. Analysts expect the company to report fourth-quarter profit per share of $0.94 on revenue of $3.60 billion.

The company expects revenues for the full-year 2013 to be in the range of $14.3 billion to $14.4 billion. Full-year adjusted earnings per share from continuing operations is expected to be in the range of $3.55 to $3.60. Full-year reported earnings per share is expected to be $2.34 to $2.39. Analysts expect the company to report full year profit per share of $3.59 on revenue of $14.38 billion.