Ingersoll Rand Inc. - IR STOCK NEWS

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.

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.

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.

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.

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.

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.

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.