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Ingersoll Rand Inc. - IR STOCK NEWS

Welcome to our dedicated page for Ingersoll Rand news (Ticker: IR), a resource for investors and traders seeking the latest updates and insights on Ingersoll Rand stock.

Ingersoll Rand Inc. Common Stock (NYSE: IR) is a global leader in creating and sustaining safe, comfortable, and efficient environments. The company's diverse portfolio is categorized into two main business lines: Industrial Technologies and Services, and Precision and Science Technologies. With renowned brands such as Club Car®, Ingersoll Rand®, Thermo King®, and Trane®, the company enhances the quality and comfort of air in homes and buildings, ensures the safe transport and protection of food and perishables, secures homes and commercial properties, and boosts industrial productivity and efficiency.

Ingersoll Rand was formed through the merger of Gardner Denver and Ingersoll Rand's industrial segment. It caters to various end markets, including industrial, medical, and energy sectors. The company offers a broad range of products, including compression systems, blower and vacuum solutions, and fluid management systems. In 2023, Ingersoll Rand generated approximately $6.9 billion in revenue, reflecting its robust financial performance and market presence.

Ingersoll Rand is committed to sustainable progress and enduring results, aiming to advance the quality of life globally. Its recent partnership with Inkbit™, a pioneer in advanced additive manufacturing solutions, underscores its dedication to innovation and technological advancement. This collaboration focuses on bringing Inkbit's Vision-Controlled Jetting™ (VCJ) technology to the market, revolutionizing product design and manufacturing across various industries, including robotics, healthcare, mobility, industrial automation, and defense.

The company's leadership team, including Vicente Reynal, Chairman and Chief Executive Officer, continues to drive growth and innovation. Ingersoll Rand's strategic investments and partnerships highlight its commitment to expanding its technological capabilities and market reach.

Latest News:

  • MEDFORD, Mass., May 6, 2024 – Inkbit™ announced the closing of a $19M financing round led by Ingersoll Rand, with participation from several prominent investors. This funding will accelerate Inkbit's Vision-Controlled Jetting™ technology's market adoption and commercial use across life sciences and industrial applications.
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Ingersoll Rand Inc. (NYSE: IR) announced a new date for its fourth quarter 2022 earnings release, now scheduled for 6 a.m. ET on February 21, 2023, due to the bank holiday on February 20, 2023. The timely earnings conference call will take place at 8 a.m. ET on the same day. Investors can dial +1-844-200-6205 domestically or +1-929-526-1599 internationally to participate, using access code 562071. A real-time audio webcast and related materials will be accessible via the Investor Relations website, with a replay available post-call.

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Ingersoll Rand (NYSE:IR) has acquired Paragon Tank Truck Equipment for approximately $40 million in cash. This acquisition enhances Ingersoll Rand’s capabilities, particularly in liquid packaging and expands its blower portfolio. Paragon, based in Cartersville, GA, specializes in solutions for loading and unloading dry bulk and liquid tanks and has annual revenues exceeding $25 million. The deal is projected to yield an Adjusted EBITDA purchase multiple in the low double digits, potentially reducing to mid-single digits by year three, thus indicating a favorable financial outlook for the integration.

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Ingersoll Rand Inc. (NYSE: IR) will release its fourth quarter 2022 earnings on February 20, 2023, after market hours. A live conference call to discuss the results is scheduled for February 21, 2023, at 8 a.m. ET. Participants can join the call by dialing +1-844-200-6205 for domestic calls or +1-929-526-1599 for international calls, using access code 562071. The webcast will be available on Ingersoll Rand's Investor Relations website, where related materials will be posted beforehand. A replay of the webcast will also be accessible after the call.

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Ingersoll Rand Inc. (NYSE:IR) has completed its acquisition of SPX FLOW’s Air Treatment business for approximately $525 million. This strategic move enhances Ingersoll Rand’s product portfolio by adding energy-efficient compressed air dryers and filters, with nearly $180 million in anticipated 2022 revenues, 50% of which will come from aftermarket sales. The acquisition is expected to improve adjusted EBITDA margins within three years, indicating strong growth potential.

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Ingersoll Rand Inc. (NYSE:IR) has appointed Jennifer Hartsock to its Board of Directors, effective January 1, 2023. Hartsock, currently the Chief Information and Digital Officer at Cargill, brings extensive experience in leading global technology organizations. Her expertise in digital transformation aligns with Ingersoll Rand's focus on expanding product innovation and growth in sustainable markets. The Chairman, Vicente Reynal, expressed confidence in Hartsock's positive impact on the company’s strategic goals.

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Ingersoll Rand reported a robust third-quarter performance, achieving record orders of $1,655 million, up 10%, and revenues of $1,516 million, up 14%. Adjusted EBITDA reached $376 million, with a margin of 24.8%, up 110 basis points year-over-year. The company raised its full-year organic revenue growth guidance to 12%-14% and adjusted EBITDA to $1,400-$1,425 million. Ingersoll Rand emphasized operational excellence through its IRX model and announced six strategic acquisitions to enhance its portfolio. Liquidity remains strong at $2.6 billion.

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The Board of Directors of Ingersoll Rand (NYSE: IR) announced a quarterly cash dividend of $0.02 per share, payable on December 16, 2022. Stockholders of record as of November 16, 2022 will receive this payment. The move reflects the company’s ongoing commitment to returning value to its shareholders. Ingersoll Rand provides critical flow creation and industrial solutions and aims to enhance the quality of life for employees, customers, and communities.

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Ingersoll Rand (NYSE:IR) has announced the acquisition of Everest Group and Airmax Groupe for approximately $86 million. This strategic move aims to enhance its product portfolio in India and France, tapping into high-growth markets such as water treatment and pharmaceuticals. Everest Group is a leader in customized blower and vacuum solutions in India, while Airmax provides strong local expertise and recurring revenue from aftermarket services. The combined revenue of the acquired companies is around $35 million, with transaction costs expected to yield attractive EBITDA multiples.

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FAQ

What is the current stock price of Ingersoll Rand (IR)?

The current stock price of Ingersoll Rand (IR) is $92.28 as of December 20, 2024.

What is the market cap of Ingersoll Rand (IR)?

The market cap of Ingersoll Rand (IR) is approximately 36.7B.

What does Ingersoll Rand Inc. do?

Ingersoll Rand Inc. creates and sustains safe, comfortable, and efficient environments through its diverse portfolio, including brands like Club Car®, Ingersoll Rand®, Thermo King®, and Trane®.

What are the main business lines of Ingersoll Rand?

The company's main business lines are Industrial Technologies and Services, and Precision and Science Technologies.

What markets does Ingersoll Rand serve?

Ingersoll Rand serves various end markets, including industrial, medical, and energy sectors.

What products does Ingersoll Rand offer?

The company offers compression systems, blower and vacuum solutions, and fluid management systems.

How much revenue did Ingersoll Rand generate in 2023?

Ingersoll Rand generated approximately $6.9 billion in revenue in 2023.

What is Ingersoll Rand's commitment to sustainability?

Ingersoll Rand is committed to sustainable progress and enduring results, aiming to advance the quality of life globally.

What recent partnership has Ingersoll Rand announced?

Ingersoll Rand recently partnered with Inkbit™ to bring Vision-Controlled Jetting™ (VCJ) technology to market, revolutionizing product design and manufacturing.

Who is the CEO of Ingersoll Rand?

The Chairman and Chief Executive Officer of Ingersoll Rand is Vicente Reynal.

What are Ingersoll Rand's notable brands?

Notable brands under Ingersoll Rand include Club Car®, Ingersoll Rand®, Thermo King®, and Trane®.

Where can I read more about Ingersoll Rand's latest news?

You can read the latest news and updates on Ingersoll Rand's official website or on financial news platforms.

Ingersoll Rand Inc.

NYSE:IR

IR Rankings

IR Stock Data

36.69B
402.18M
0.21%
101.02%
2.44%
Specialty Industrial Machinery
General Industrial Machinery & Equipment
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United States of America
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