INGERSOLL RAND Reports Q2 FY2023 Earnings on August 2 2023
August 6, 2023
🌥️Earnings Overview
On August 2 2023, INGERSOLL RAND ($NYSE:IR) announced their second quarter FY2023 earnings, which ended June 30 2023. Total revenue was USD 1686.5 million, a 17.1% increase compared to the same period last year. Net income for the quarter was USD 179.5 million, a 29.6% jump from the prior year.
Price History
On Wednesday, August 2 2023, INGERSOLL RAND reported its second quarter FY2023 earnings. Investors were eager to see how the company’s performance fared in light of the challenging market conditions. Unfortunately, the stock opened at $65.6 and closed at $65.5, down by 0.8% from the previous day’s closing price of $66.0. This was a disappointment for investors, who had hoped to see a slight gain due to INGERSOLL RAND’s strong performance over the past year. In addition to the strong financial performance, INGERSOLL RAND also announced an expansion of their product portfolio with new offerings that are designed to meet the changing needs of customers in this new market environment.
This strategy has been successful in driving growth for the company and will be integral to their future success. Overall, INGERSOLL RAND’s second quarter FY2023 earnings report shows that the company is still able to generate strong profits despite the difficult market conditions. With a new product line and sound financial performance, the company is well-positioned to take advantage of future opportunities and continue to focus on long-term growth. 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
At GoodWhale, we strive to provide our users with the most up-to-date financial and business data when it comes to potential investments. That’s why we’ve been analyzing INGERSOLL RAND‘s fundamentals. After carefully reviewing the data, we have been able to produce a detailed report. Through our Risk Rating system, we have identified INGERSOLL RAND as a high risk investment. This means that investors should be aware of the potential financial and business risks that come with this kind of venture. We have also detected two risk warnings in the income sheet and balance sheet that are worth noting. If you register with us, you will get access to more information about these warnings. We believe this data will help you make more informed decisions when considering INGERSOLL RAND as a potential investment option. 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 has seen strong performance in the second quarter of FY2023, with total revenue of USD 1686.5 million and a net income of USD 179.5 million. This represents a 17.1% and 29.6% year-on-year increase in revenue and net income respectively. This performance shows that INGERSOLL RAND is continuing to grow, providing a strong opportunity for investors to consider investing in the company. The company’s solid financial results during this period further demonstrate its ability to generate consistent returns, making it an attractive investment option for investors.
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