Ingersoll Rand sales and earnings rise
Ingersoll-Rand plc reported revenues increased 2 percent in the second quarter to $3.6 billion, compared with revenues of $3.54 billion for the 2014 second quarter.
Revenues, excluding acquisitions and currency, increased 3 percent compared with last year. U.S. revenues were up 5 percent on an organic basis.
The company reported net earnings of $78.9 million, or EPS of 29 cents, for the second quarter of 2015. Second-quarter net earnings included $83.0 million, or EPS of 31 cents, from continuing operations, as well as a net loss of $(4.1) million, or EPS of 2 cents, from discontinued operations.
“We saw relative strength across our Climate Segment, while markets in our Industrial Segment were softer than expected. We saw signs of stabilization in recent weeks and are increasing productivity in the businesses where we see continued market weakness,” said Michael W. Lamach, chairman and chief executive officer. “Despite declining industrial markets in the quarter and economic pressure in Asia and Latin America, we continued to grow revenue and delivered EPS at the midpoint of our guidance. We remain committed to the strategy that we’ve executed consistently over the past five years, which will continue to deliver long-term shareholder value and benefit to our customers and employees around the world.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
