Ingersoll Rand Achieves Record Q3 2024 Results
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Ingersoll Rand Achieves Record Q3 2024 Results

Ingersoll Rand Inc. ( (IR) ) has released its Q3 earnings. Here is a breakdown of the information Ingersoll Rand Inc. presented to its investors.

Ingersoll Rand Inc. is a global provider of mission-critical flow creation and life science and industrial solutions, known for its diverse range of products that cater to complex and harsh environments across multiple sectors.

The company reported record results for the third quarter of 2024, highlighting significant growth in orders and revenue. Ingersoll Rand’s strategic focus on operational excellence and innovation has driven robust financial performance, with notable increases in gross margin, adjusted earnings per share, and free cash flow.

Key financial metrics include a 10% rise in orders to $1,799 million and a 7% increase in revenues to $1,861 million. Net income attributable to Ingersoll Rand was reported at $222 million, with adjusted net income reaching $345 million. The company’s adjusted EBITDA increased by 15% to $533 million, showcasing a margin expansion to 28.6%. Ingersoll Rand ended the quarter with substantial liquidity of $4.0 billion, which supports its ongoing M&A strategy and capital investments.

Looking ahead, Ingersoll Rand maintains a positive outlook, revising its full-year 2024 guidance with expected revenue growth of 5% to 7% and adjusted EBITDA growth of 12% to 14%. The company remains committed to leveraging its economic growth engine to achieve long-term financial goals and sustain its market position as a leading growth compounder.

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