Ingersoll-Rand: 4Q Earnings Snapshot
DUBLIN (AP) _ Ingersoll-Rand PLC (IR) on Wednesday reported fourth-quarter net income of $296.1 million.
The Dublin-based company said it had net income of $1.22 per share. Earnings, adjusted for one-time gains and costs, were $1.40 per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The manufacturer posted revenue of $4.15 billion in the period, matching Street forecasts.
For the year, the company reported profit of $1.41 billion, or $5.77 per share. Revenue was reported as $16.6 billion.
Ingersoll-Rand shares have decreased nearly 2% since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 1%. The stock has increased 39% in the last 12 months.