Ingersoll Rand Inc. · Q1 2020 earnings

Briefing

Ingersoll Rand's first-quarter revenues increased due to the Transaction, but the company reported a net loss. The company remains focused on integration synergies and cost management.

Ingersoll Rand reported first-quarter revenues of $800 million, up 29% due to the Transaction. However, the company reported a net loss of $37 million, or a loss of $0.13 per share. Supplemental Adjusted EBITDA was $208 million with a margin of 16.4%. Due to the uncertainty of current economic conditions associated with COVID-19 and its impact on end markets, Ingersoll Rand is not providing 2020 guidance at this time.

• Reported revenues of $800 million, up 29%, due primarily to the Transaction.
• Reported net loss of $37 million, or a loss of $0.13 per share, including $197 million of pre-tax amortization, restructuring and related business transformation costs, acquisition-related expenses and other adjustments; reported Adjusted Net Income of $75 million.
• Supplemental Adjusted EBITDA of $208 million with a margin of 16.4%.
• Reported operating cash flow of $68 million and free cash flow of $60 million, both including Transaction-related outflows of $63 million.

Headline financials

Revenue & EPS history

Due to the uncertainty of current economic conditions associated with COVID-19 and its impact on end markets, Ingersoll Rand is not providing 2020 guidance at this time. The company will look to provide annual guidance at an appropriate time.