Ingersoll: 1Q Earnings Snapshot
MILWAUKEE (AP) _ Ingersoll Rand Inc. (IR) on Tuesday reported a first-quarter loss of $36.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Milwaukee-based company said it had a loss of 13 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 27 cents per share.
The maker of flow control and compression equipment posted revenue of $799.9 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.31 billion.
Ingersoll shares have decreased 21% since the beginning of the year, while the Standard & Poor’s 500 index has dropped slightly more than 9%. The stock has dropped 13% in the last 12 months.