Posted February 24, 2022

Ingersoll Rand sales climb 19 percent

Ingersoll Rand posted revenues of $5.2 billion in 2021, a 19 percent improvement from $4.0 billion in 2020.

Net income of $562.5 million, or $1.34 per share, compared to a loss of $33.3 million, or a loss of 9 cents per share, the previous year.

For the fourth quarter, revenues of $1.4 billion increased 16 percent from $1.2 billion in the fourth quarter of 2020.

Net income of $293 million for the quarter, or 71 cents per share, improved from $151.6 million, or 36 cents, in the previous year's fourth quarter.

“The momentum from our strong fourth quarter commercial and operational performance has positioned us for continued success as we move into 2022. Our company, driven by our purpose to Make Life Better and enabled by our IRX process, successfully navigated through a continued challenging supply chain and inflationary environment,” said Vicente Reynal, chairman and CEO.

In the fourth quarter, sales in the Industrial Technologies and Services (ITS) Segment were up 12 percent from $1.1 billion.