Ingersoll-Rand Inc - IR STOCK NEWS

General Atlantic has appointed Mark Stevenson as a Senior Advisor in its Life Sciences sector. With over 30 years of leadership experience, he was previously the Executive Vice President and COO at Thermo Fisher Scientific (NYSE: TMO), a company generating over $40 billion in annual sales. General Atlantic has invested over $2.5 billion in Life Sciences since 2020 and is focused on identifying emerging investment opportunities in this growing field. Stevenson aims to support entrepreneurs scaling biotechnology innovations, highlighting the significant opportunities in life sciences for future growth.

Ingersoll Rand Inc. (NYSE: IR) has announced participation in two significant investor events. On March 8, 2023, CFO Vik Kini and VP of Investor Relations Matthew Fort will engage in a fireside chat at the 15th Annual Evercore ISI Industrial Conference at 9:40 AM ET.

Moreover, Chairman and CEO Vicente Reynal will join the Deutsche Bank Global ESG Conference on March 9, 2023, at 12:00 PM ET. Both events will be accessible via real-time audio webcast on the Ingersoll Rand Investor Relations website, with replays available post-event.

Ingersoll Rand Inc. has reported robust fourth quarter results for 2022, with revenues of $1.624 billion, a 14% increase year-over-year. Notable figures include net income of $217 million and an adjusted EBITDA of $420 million, up 23%. For the full year, the company achieved revenues of $5.916 billion, a 15% growth, and net income of $605 million. The company anticipates 2023 revenue growth of 7% to 9%, with adjusted EBITDA projected between $1.570 billion and $1.630 billion. Ingersoll Rand also highlighted strong operational execution through its IRX model and a healthy liquidity of $2.7 billion as of year-end 2022.

The Board of Directors of Ingersoll Rand (NYSE: IR) announced a quarterly cash dividend of $0.02 per share, payable on March 24, 2023, to stockholders of record on March 1, 2023. This decision reflects the company's commitment to returning value to shareholders while maintaining its operations in providing essential flow creation and industrial solutions.

Ingersoll Rand's diverse portfolio spans over 40 respected brands, ensuring it meets the demands of various industries, including those requiring robust solutions in challenging environments.

Ingersoll Rand Inc. (NYSE: IR) announced its participation in upcoming investor conferences. Key executives, including Chairman Vicente Reynal, CFO Vik Kini, and SVP Mike Weatherred, will engage in fireside chats. The first event will be at the Citi Global Industrial Tech and Mobility Conference on February 22, 2023, at 2:40 PM ET. The second event is at the Barclays Industrial Select Conference on February 23, 2023, at 1:15 PM ET. A real-time audio webcast of the chats will be accessible on the Ingersoll Rand Investor Relations website, with recordings available afterward.

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.

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.