Ingersoll Rand's Q3 2024: A Strong Performance Driven by IRX

Ingersoll Rand Inc. (IR) reported strong third quarter 2024 earnings, with revenues up 7% year-over-year (YoY) to $1.861 billion, driven by its competitive differentiator - Ingersoll Rand Execution Excellence (IRX). Adjusted EPS of $0.84 surpassed estimates by $0.03, while adjusted EBITDA grew 15% to $533 million, with a margin of 28.6%, up 210 basis points YoY. Free cash flow margin improved to 20%. Orders grew 10% YoY, driven by acquisitions and organic growth.

Ingersoll Rand's strong performance was underpinned by its Industrial Technologies & Services segment, which saw organic order growth, and the Precision & Science Technologies segment, with organic orders growing low single-digits. The company maintained a strong financial position with liquidity of $4.0 billion and net debt to Adjusted EBITDA leverage of 1.7x. Ingersoll Rand reiterated its full-year 2024 guidance, with total revenue growth of 5-7%, Adjusted EBITDA of $2,010-$2,040 million (up 12-14% YoY), and Adjusted EPS of $3.28-$3.34 (up 11-13% YoY).



Ingersoll Rand's Q3 2024 earnings call demonstrated the company's ability to execute and deliver strong financial results, driven by its IRX initiatives. With a solid financial position and positive outlook, Ingersoll Rand remains an attractive investment opportunity for those seeking exposure to a well-managed, growth-oriented industrial company.