INGERSOLL RAND Reports Earnings for 2nd Quarter of FY2023
August 7, 2023
🌥️Earnings Overview
On August 2, 2023, INGERSOLL RAND ($NYSE:IR) reported their earnings results for the second quarter of FY2023 (ending June 30, 2023). With a 17.1% increase from the prior year, total revenue amounted to USD 1686.5 million and net income was USD 179.5 million, representing a 29.6% year-over-year increase.
Price History
The company’s stock opened the trading day at $65.6 and closed at $65.5, a decrease of 0.8% from the prior closing price of $66.0. Additionally, the company has continued to optimize their supply chain network, working on reducing lead times while improving their quality of goods. Overall, INGERSOLL RAND’s earnings report for the second quarter of fiscal year 2023 was relatively stable, with revenues increasing slightly and costs decreasing slightly. Investors will be watching closely to see how this stability will carry over into the next quarter’s earnings report. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ingersoll Rand. More…
| Total Revenues | Net Income | Net Margin |
| 6.46k | 703.1 | 11.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ingersoll Rand. More…
| Operations | Investing | Financing |
| 1.03k | -922.8 | -204.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ingersoll Rand. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 15.03k | 5.55k | 23.27 |
Key Ratios Snapshot
Some of the financial key ratios for Ingersoll Rand are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.5% | 70.3% | 15.6% |
| FCF Margin | ROE | ROA |
| 14.3% | 6.7% | 4.2% |
Analysis
As GoodWhale, we have conducted an analysis of INGERSOLL RAND‘s fundamentals. According to our Star Chart, INGERSOLL RAND is classified as a ‘cheetah’ – a company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company may be of interest to investors who are looking for high growth potential but are willing to accept greater risk. Thankfully, INGERSOLL RAND has a very strong health score of 8/10 with regard to its cashflows and debt. This means that it is capable of paying off debt and funding future operations. Additionally, INGERSOLL RAND is strong in growth, and medium in asset, dividend, and profitability. This combination may be an attractive option for those looking for a relatively stable yet high-growth model. More…
Peers
Some of its main competitors are Siemens Ltd, IDEX Corp, and Clean Energy Technologies Inc.
– Siemens Ltd ($BSE:500550)
Siemens Ltd. is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India. It is the largest industrial manufacturing company in India with a market capitalization of ₹1.03 trillion (US$15 billion) as of March 2020. The company is a leading producer of a wide range of products, including medical diagnostics, industrial automation, power generation and distribution, transportation, building technologies, and hearing aids. Siemens has a long history in India, dating back to 1867 when Werner von Siemens, the founder of Siemens AG, set up the first telegraph line between St. Petersburg and Moscow.
– IDEX Corp ($NYSE:IEX)
FIDEX Corp is a publicly traded company with a market capitalization of $16.41 billion as of 2022. The company has a return on equity of 17.38%. FIDEX Corp is a leading provider of financial services and products, including investment banking, asset management, and insurance.
– Clean Energy Technologies Inc ($OTCPK:CETY)
As of 2022, Clean Energy Technologies Inc has a market cap of 39.63M and a Return on Equity of 25.47%. The company is engaged in the business of developing, manufacturing and marketing clean energy products and services. The company’s products and services include solar energy, wind energy, and energy storage.
Summary
INGERSOLL RAND‘s second quarter earnings results for FY2023 show strong performance, with total revenue increasing 17.1% year-over-year and net income increasing 29.6%. This marks an impressive quarter for the company, and is likely to be encouraging news for those invested in their stock. The company’s growth and profitability show an upward trend that may continue in the future, making it a smart investment for those interested in the industry. With its strong financials and consistent outlook, INGERSOLL RAND appears to be a safe bet for investors.
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