NYSE$IR
Ingersoll Rand Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Ingersoll Rand's Q2 2023 performance was marked by record orders and revenue, driven by strong organic growth across business segments and successful inorganic growth initiatives, leading to raised full-year guidance.
Ingersoll Rand reported a strong second quarter in 2023, achieving record orders and revenue. The company raised its full-year guidance for total revenue growth, organic revenue growth, Adjusted EBITDA, and Adjusted EPS due to the outstanding performance.
- Reported second quarter orders increased by 9% to $1,737 million, with a 5% organic growth.
- Second quarter revenues reached $1,687 million, up 17%, including 12% organic growth.
- Adjusted EBITDA increased by 27% to $425 million, with a margin of 25.2%, a 190 basis points increase year over year.
- Free cash flow from continuing operations rose by 24% to $204 million.
Headline financials
Revenue & EPS history
Ingersoll Rand · Revenue · Quarterly
$1.69B
Revenue by segment
Ingersoll Rand · $1.69B total across 2 segments · Q2 2023
- Industrial Technologies & Services$1.38B+19.7%81.7%
- Precision & Science Technologies$308M+6.4%18.3%
Forward guidance
Ingersoll Rand raised its full year 2023 guidance for total revenue growth, organic revenue growth, Adjusted EBITDA and Adjusted EPS ranges based on robust Q2 performance and its expectations of continued strong commercial and operational performance for the balance of the year.
Tailwinds
- Raising full-year 2023 organic revenue growth range expectation by 200 bps to 8% to 10%.
- Raising total revenue growth to a range of 12% to 14%.
- Raising Adjusted EBITDA guidance to a range of $1,690 to $1,740 million, up 18% to 21% over prior year.
- Raising full-year 2023 Adjusted EPS guidance to a range of $2.70 to $2.80, up 14% to 19% over prior year.
- M&A is expected to contribute ~$300M.
Headwinds
- FX impact is expected to be ~ Flat.
- Corporate Costs are expected to be (~$165M).
- Reconciliations of non-GAAP measures related to full-year 2023 guidance have not been provided.
- The company is unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.
- Guidance is based on June 2023 FX rates and reflects all completed and closed M&A as of August 1, 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.6%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.9%
Avg return
30 days after
65%
26 / 40 earnings
Positive
+11.7%
Q3 2018
Best reaction
-10.9%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.1% | -6.9% | -11.7% | |
| Q4 2025 | +4.6% | +3.2% | -12.8% | |
| Q3 2025 | -3.4% | -0.4% | +2.0% | |
| Q1 2025 | +0.5% | +2.2% | +7.1% | |
| Q4 2024 | -7.4% | -7.4% | -11.5% | |
| Q3 2024 | -3.4% | +0.4% | +7.1% | |
| Q2 2024 | -7.7% | -12.0% | -7.5% | |
| Q1 2024 | -6.8% | -3.4% | +0.1% | |
| Q4 2023 | +3.4% | +0.3% | +4.6% | |
| Q3 2023 | +8.1% | +7.5% | +19.1% | |
| Q2 2023 | +1.7% | +2.9% | +6.0% | |
| Q1 2023 | -0.0% | +3.2% | +7.5% | |
| Q4 2022 | -0.2% | +0.2% | -4.6% | |
| Q3 2022 | +2.1% | +5.8% | +8.4% | |
| Q2 2022 | +2.2% | +2.7% | -2.0% | |
| Q1 2022 | +0.7% | -4.3% | +8.1% | |
| Q4 2021 | -5.2% | -4.8% | -5.9% | |
| Q3 2021 | +1.6% | +3.0% | +4.0% | |
| Q2 2021 | -0.1% | +0.3% | +9.6% | |
| Q1 2021 | +0.1% | -5.7% | -3.1% | |
| Q4 2020 | +3.9% | +5.6% | +10.1% | |
| Q3 2020 | +10.9% | +15.2% | +26.9% | |
| Q2 2020 | +3.4% | +7.3% | +14.3% | |
| Q1 2020 | -10.9% | -9.2% | +5.7% | |
| Q4 2019 | +2.0% | -5.1% | -47.9% | |
| Q3 2019 | +0.7% | +0.2% | +4.1% | |
| Q2 2019 | -6.0% | -9.1% | -13.6% | |
| Q1 2019 | +6.3% | +6.6% | +6.7% | |
| Q4 2018 | +1.8% | +2.4% | +7.2% | |
| Q3 2018 | +11.7% | +13.8% | +3.5% | |
| Q2 2018 | -3.1% | +1.9% | -2.3% | |
| Q1 2017 | +2.5% | +1.7% | +6.5% | |
| Q1 2018 | +0.5% | -1.6% | +3.8% | |
| Q4 2015 | -8.1% | -8.0% | -4.5% | |
| Q4 2017 | -2.0% | -5.3% | -1.6% | |
| Q3 2016 | +0.1% | -0.5% | +7.0% | |
| Q3 2017 | +9.4% | +9.5% | +17.1% | |
| Q4 2016 | +3.4% | +1.5% | +1.9% | |
| Q2 2016 | +3.4% | +1.5% | +1.9% | |
| Q2 2017 | +3.4% | +6.8% | +5.3% | |
| Q1 2016 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — |
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