Posted May 12, 2020

Ingersoll Rand sales climb 29 percent

Ingersoll Rand reported first-quarter revenues of $800 million were up 29 percent due primarily to the acquisition by Gardner Denver Holdings of Ingersoll-Rand plc's industrial segment.

Supplemental adjusted revenues of $1.3 billion were down 15 percent and down 14%, excluding the impact of foreign exchange.

A net loss in the quarter was $37 million, or a loss of 13 cents per share, based on share count of 277 million, compared to net income of $47 million, or 23 cents per share, based on share count of 208 million.

The Industrial Technologies and Services Segment revenues of $504 million were up 24 percent primarily due to the transaction. The segment includes a broad range of compressor, vacuum and blower solutions as well as fluid transfer equipment, loading systems, power tools and lifting equipment.

The Precision and Science Technologies Segment revenues of $113 million were up 42 percent primarily due to the transaction. The segment includes highly specialized gas, fluid management systems, liquid and precision syringe pumps and compressors