Posted August 4, 2020

Ingersoll Rand revenues soar post-acquisition

Ingersoll Rand reported second-quarter revenues of $1.3 billion up 101 percent versus prior year as reported revenues due primarily to the acquisition by Gardner Denver.

Compared to supplemental adjusted revenues of $1.6 billion in 2019, reported revenues declined 21 percent.

Reported net loss attributable to Ingersoll Rand Inc. of $178 million, or a loss of 43 cents per share, including $258 million of pre-tax amortization, restructuring and related business transformation costs, acquisition-related expenses and other adjustments.

The Industrial Technologies and Services segment revenues of $830 million were up 94 percent compared to the prior year reported revenues primarily due to the transaction, and down 19 percent compared to prior year supplemental adjusted revenues due to the impact of COVID-19.