Ingersoll Rand Inc. - IR STOCK NEWS

Ingersoll Rand (NYSE: IR) has appointed Vicente Reynal as chairman and William Donnelly as lead director, effective immediately. Reynal, who has been CEO since March 2020, takes over from retiring chairman Pete Stavros. Donnelly, a board member since 2017, brings extensive experience in delivering shareholder value. Both leaders aim to continue fostering a culture of employee ownership and commitment to sustainability. These changes signal confidence in Ingersoll Rand's growth strategy and operational excellence.

Ingersoll Rand Inc. (NYSE: IR) will participate in a virtual fireside chat at the Baird Global Industrial Conference 2021 on November 10, 2021, at 11:25 AM Eastern time. The event will feature Vicente Reynal, president and CEO, alongside Vikram Kini, CFO. A real-time webcast will be available on the Ingersoll Rand Investor Relations website, and a replay will follow after the event's conclusion.

Ingersoll Rand focuses on providing mission-critical flow creation and industrial solutions through over 40 respected brands, emphasizing technology-driven excellence.

Ingersoll Rand reported record financial results for Q3 2021, with orders of $1,498 million, up 37% year-over-year, and revenues reaching $1,325 million, a 19% increase. Net income soared by 327% to $126 million, translating to $0.30 per share. The company also raised its 2021 guidance, forecasting high teens revenue growth and Adjusted EBITDA between $1.175 billion and $1.195 billion. Key acquisitions included Air Dimensions and Tuthill Pumps, bolstering its strategic growth. With $3.1 billion in liquidity, Ingersoll Rand maintains a strong financial position and capital allocation strategy.

Ingersoll Rand's Hydrogen Systems Group, part of the Precision and Science Technologies Segment, has signed a long-term supply agreement with Hiringa Refuelling NZ to provide hydrogen refuelling stations across New Zealand. Hiringa has placed orders for four high-capacity stations, which are scheduled for delivery in 2022. This collaboration aims to establish a nationwide green hydrogen network to support heavy transport. Hiringa plans to deploy over 24 refuelling stations within the next 4-5 years, enhancing the infrastructure for zero-emission transport in New Zealand.

Ingersoll Rand (NYSE:IR) has announced an all-cash acquisition of Tuthill Corporation’s Pump Group for $84.6 million, expected to close in Q4. This purchase extends Ingersoll Rand's portfolio of precision pumps, enhancing its reach in high-growth markets like life sciences, food and beverage, and wastewater treatment. The acquisition is anticipated to lower adjusted EBITDA purchase multiples to mid-single digits by year three and create substantial synergies, driving shareholder value.

Ingersoll Rand has announced the acquisition of Air Dimensions for $70.5 million, aligning with its capital allocation strategy focused on high-growth sectors. The transaction, set to close on October 29, 2021, aims to enhance Ingersoll Rand's product portfolio and expand its market reach in sustainable applications. Air Dimensions, based in Deerfield Beach, Florida, reported $11 million in annual revenues for 2021, with significant adjusted EBITDA margins. The acquisition is expected to result in meaningful synergies and is viewed as a strategic move for future growth.

The Board of Directors of Ingersoll Rand (NYSE: IR) has declared a quarterly cash dividend of $0.02 per share, marking the company's inaugural dividend under its new program. This dividend will be payable on December 17, 2021, to stockholders recorded by November 10, 2021. This announcement follows their capital allocation strategy presentation on September 2, 2021, highlighting a commitment to returning value to shareholders.

Ingersoll Rand Inc. (NYSE:IR) will host a virtual investor and analyst meeting on November 18 at 8 a.m. ET. CEO Vicente Reynal and CFO Vikram Kini will present the company’s long-term growth strategy, market technologies, and capital allocation priorities, emphasizing Ingersoll Rand Execution Excellence (IRX) and ESG initiatives. The event will be accessible via a live webcast, with a replay available post-event. For more details, visit the Ingersoll Rand Investor Relations website.

Ingersoll Rand Inc. (NYSE: IR) will release its third-quarter earnings on November 3, 2021, after the market closes. A live conference call is scheduled for November 4, 2021, at 8 a.m. Eastern Time to discuss the results. Investors can join the call by dialing 1-844-200-6205 or accessing a real-time audio webcast on Ingersoll Rand's Investor Relations website. A replay will be available post-conference. Ingersoll Rand is known for providing mission-critical industrial solutions across over 40 brands.