For the quarter ended June 2023, Ingersoll Rand (IR) reported revenue of $1.69 billion, up 17.1% over the same period last year. EPS came in at $0.68, compared to $0.54 in the year-ago quarter.
The reported revenue represents a surprise of +6.68% over the Zacks Consensus Estimate of $1.58 billion. With the consensus EPS estimate being $0.59, the EPS surprise was +15.25%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Ingersoll performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Precision and Science Technologies: $308.10 million versus $300.31 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
- Revenue- Industrial Technologies and Services: $1.38 billion versus $1.28 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +19.8% change.
- Adjusted EBITDA- Precision & Science Technologies: $90 million versus the four-analyst average estimate of $87.87 million.
- Adjusted EBITDA- Industrial Technologies & Services: $377.50 million versus $324.32 million estimated by four analysts on average.
Shares of Ingersoll have returned +1.2% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
