Ingersoll Rand Inc. reported first‑quarter 2026 results on April 28, 2026, with revenue of $1.847 billion and an adjusted earnings per share of $0.77. The adjusted EPS beat the consensus estimate of $0.74 by $0.03, a 4.1 percent lift. Revenue was slightly above the $1.83 billion consensus but fell short of the higher $1.889 billion estimate, reflecting headwinds in the Industrial Technologies and Services (IT&S) segment.
Segment data show that IT&S generated $1.445 billion in revenue, up 7 percent year‑over‑year, but organic sales declined 2 percent, and orders rose 5 percent while organic orders fell 3 percent. The segment’s adjusted EBITDA margin contracted to 26.7 percent, a 210‑basis‑point drop, driven by flow‑through on organic volume declines, tariff‑pricing that offset tariff costs one‑for‑one, and continued commercial investments. In contrast, Precision & Science Technologies (P&ST) posted $403 million in revenue, up 10.4 percent, with organic growth of 4.4 percent, and orders increased 6.3 percent. P&ST’s adjusted EBITDA margin expanded to 30.3 percent, up 120 basis points, reflecting strong demand for its high‑margin products.
Overall adjusted EBITDA margin for the quarter was 25.4 percent, down from 26.8 percent a year earlier, largely due to the IT&S mix shift and cost inflation. The EPS beat, however, was supported by cost discipline and the higher margin contribution from P&ST, offsetting the compression in IT&S.
Management reaffirmed its full‑year 2026 guidance, maintaining a revenue outlook of $7.84 billion to $7.99 billion and an adjusted EPS range of $3.45 to $3.57. The guidance reflects a 2.5 percent to 4.5 percent revenue growth expectation, confidence in a second‑half recovery, and a robust M&A pipeline that the company expects to close in the coming months.
Investors reacted negatively to the earnings release, with shares falling 4.18 percent on the day of the announcement. The market focused on the organic revenue weakness in IT&S and the margin contraction, despite the EPS beat. Management highlighted the company’s M&A pipeline and IRX execution excellence, while noting headwinds such as a $40 million order delay from the Middle East conflict, tariff and inflation impacts, and the need to recover the delayed orders.
Management emphasized the company’s momentum and confidence in its strategy. “We began 2026 with solid momentum, delivering high single‑digit Adjusted EPS growth and meeting our expectations for revenue and Adjusted EBITDA,” said Chairman and CEO Vicente Reynal. “With a robust M&A pipeline, we remain confident in reaching our annual revenue target,” he added. CFO Vikram Kini noted, “Orders finished up 5 percent year‑over‑year, resulting in a book‑to‑bill of 1.07x… we did see a delay in orders of approximately $40 million… primarily driven by the conflict in the Middle East… we have already recovered approximately 1/3 of these orders in the month of April.”
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