Posted May 3, 2024

Ingersoll Rand reports record first quarter revenue

Ingersoll Rand Inc. reported record first quarter revenues of $1,670 million, up 3% – on a two-year stack, up 24%. First quarter orders were down 4%.

“Our team delivered another strong start to the year with record first quarter revenue, Adjusted EBITDA, and Adjusted EPS,” said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. “We believe the power of IRX combined with our ownership mindset and leading portfolios strengthens the durability of our company while driving long-term value to shareholders.”

For the Industrial Technologies and Services Segment (IT&S) – including a broad range of compressor, vacuum, blower, and air treatment solutions as well as industrial technologies including power tools and lifting equipment – the company reported orders of $1,398 million, down 4%. On a two-year stack, up 9%. Reported revenues were $1,373 million, up 4%.

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