Ingersoll Rand sales and earnings rise
Ingersoll-Rand plc reported revenues increased by 5 percent to $3.4 billion, compared with revenues of $3.2 billion for the 2013 third quarter.
Total U.S. revenues were up 6 percent compared with 2013 and revenues from international operations increased 5 percent
The company reported net earnings of $291.3 million, or $1.07 per share, compared with $165.9 million, or 56 cents, for the 2013 third quarter.
“Our focus on new product development, services and effective operational execution has enabled us to deliver another solid quarter,” said Michael W. Lamach, chairman and chief executive officer. “We are pleased with what we’ve been able to accomplish through steady investment, productivity initiatives and a balanced, pragmatic approach to capital allocation. In addition, our bookings signal a solid Q4 as we look ahead to the end of a successful 2014.”
The Industrial Segment, which includes Ingersoll Rand compressed air systems and services, power tools and material handling systems, had revenues of $741 million, an increase of 3 percent compared with the third quarter of 2013. Bookings also increased 3 percent compared with last year.
Revenues for air compressors and industrial products increased by a low-single digit percentage compared with the third quarter of 2013. Revenues were up mid-single digits in the Americas and Asia and declined in Europe. Bookings increased by a low-single digit percentage compared with last year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
