Ingersoll-Rand's Q4 Profit Beats, but Revenue Misses; Forecast In-Line with Estimates (IR)

Ingersoll-Rand’s Q4 Profit Beats, but Revenue Misses; Forecast In-Line with Estimates (IR)


Climate control and security products maker Ingersoll-Rand Co. (IR) on Friday posted a downturn in fourth quarter earnings results, but still beat Wall Street’s expectations.

The Dublin, Ireland-based company reported fourth quarter net income of $235.6 million, or 78 cents per share, compared with $242.2 million, or 76 cents per share, in the year-ago period. Excluding special items, adjusted profit was 76 cents.

Revenue fell 1% from last year to $3.47 billion.

On average, Wall Street analysts expected a smaller profit of 70 cents per share, albeit on higher revenue of $3.6 billion.

Looking ahead, IR forecast first quarter 2013 earnings of 35 to 40 cents per share, while analysts are looking for 47 cents per share. However, it’s full-year outlook of $3.45 to $3.65 per share was in-line with Wall Street’s estimates of $3.59.

Ingersoll-Rand shares were mostly flat in premarket trading Friday. The stock has surged 46% in the past twelve months.

The Bottom Line
Shares of IR currently offer a 1.63% dividend yield, based ont he company’s annualized dividend payout of 84 cents per share and the stock’s Thursday closing price of $51.39.

Ingersoll-Rand Co. (IR) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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