2023-05-03 16:38:08 ET
- Ingersoll-Rand press release ( NYSE: IR ): Q1 Non-GAAP EPS of $0.65 beats by $0.13 .
- Revenue of $1.63B (+21.6% Y/Y) beats by $140M .
- Adjusted EBITDA 1 of $400 million, up 32%, with a margin of 24.6%, up 190 basis points year over year, and incremental margin of 33%
- Reported operating cash flow from continuing operations of $170 million and free cash flow from continuing operations of $148 million, up 359%
- Liquidity of $2.2 billion as of March 31, 2023, including $1.1 billion of cash on hand and undrawn capacity of $1.1 billion under available credit facilities
- Raising 2023 Outlook: Raising full-year 2023 organic revenue growth 1 range expectation by 300 bps to 6% to 8%, and raising total revenue growth to a range of 10% to 12%
- Raising Adjusted EBITDA 1 guidance to a range of $1,660 to $1,710 million, up 16% to 19% over prior year
- Raising full-year 2023 Adjusted EPS 1 guidance to a range of $2.64 to $2.74, up 11% to 16% over prior year.
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Ingersoll-Rand Non-GAAP EPS of $0.65 beats by $0.13, revenue of $1.63B beats by $140M