Ingersoll Rand revenues up 6% for third quarter
Ingersoll Rand Inc., a global provider of mission-critical flow creation and life science and industrial solutions, reported third quarter orders increased 21% and revenues of $2.065 billion were up 6% year over year.
"We delivered strong organic orders growth and revenue performance in the third quarter, reflecting an improved demand environment and continued execution by our teams," said Vicente Reynal, chairman and chief executive officer of Ingersoll Rand. "We saw healthy short-to-medium cycle and long cycle business activity across our geographies and end markets, and IRX continues to be a key differentiator with our teams remaining focused on controlling what we can control."
Third Quarter 2026 Segment Review
(All comparisons against the third quarter of 2025 unless otherwise noted.)
Industrial Technologies and Services Segment (IT&S): Broad range of compressor, vacuum, blower, and air treatment solutions as well as industrial technologies including power tools and lifting equipment
- Reported Orders of $1,898 million, up 25%, or up 22% organic
- Reported Revenues of $1,620 million, up 5%, or up 4% organic 1
- Reported Segment Adjusted EBITDA of $476 million, up 6%
- Segment Adjusted EBITDA, excluding IEEPA Tariff Refunds, of $451 million, up 1%
- Reported Segment Adjusted EBITDA Margin of 29.4%, up 40 basis points
- Segment Adjusted EBITDA Margin, excluding IEEPA Tariff Refunds, of 27.8%, down 120 basis points
Precision and Science Technologies Segment (P&ST): Mission-critical precision liquid, gas, air, and powder handling technologies for life sciences and industrial applications as well as aerospace and defense applications
- Reported Orders of $448 million, up 7%, or up 4% organic
- Reported Revenues of $445 million, up 7%, or up 6% organic 1
- Reported Segment Adjusted EBITDA of $153 million, up 20%
- Segment Adjusted EBITDA, excluding IEEPA Tariff Refunds, of $145 million, up 14%
- Reported Segment Adjusted EBITDA Margin of 34.3%, up 350 basis points
- Segment Adjusted EBITDA Margin, excluding IEEPA Tariff Refunds, of 32.6%, up 180 basis points
- P&ST delivered strong orders and revenue in the third quarter, with a book-to-bill of 1.01x. Life Sciences was particularly strong in the quarter, where orders and revenue were up low double digits. Adjusted EBITDA margin excluding IEEPA Tariff Refunds finished at 32.6%, which was up 180 basis points year over year, and up 110 basis points sequentially from Q2 2026.
Balance Sheet and Cash Flow
Ingersoll Rand remains in a strong financial position with ample liquidity of $3.9 billion. On a reported basis, the company generated $648 million of cash flow from operating activities and invested $25 million in capital expenditures, resulting in free cash flow1 of $623 million, compared to cash flow from operating activities of $355 million and free cash flow1 of $326 million in the prior year period. Net debt to Adjusted EBITDA leveraged was 1.6x for the third quarter, which was a decrease of 0.2x as compared to the third quarter of the prior year.
The board also authorized a $2 billion increase to the company’s share repurchase program. This increase is incremental to the $313 million remaining under the existing authorization. The increased authorization provides the company with the flexibility for additional opportunistic share repurchases over the short and medium term.
In the third quarter of 2026, Ingersoll Rand deployed $90 million to M&A, including for the previously announced acquisition of Lone Star Blower, Inc. The company also returned approximately $358 million to shareholders through $350 million in share repurchases and $8 million through its quarterly dividend payment in the third quarter.
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