Ingersoll-Rand plc Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Year Ending December 31, 2018
January 31, 2018 at 05:00 pm IST
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Ingersoll-Rand plc announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net revenues were $3,618.1 million against $3,358.8 million a year ago. Operating income was $386.7 million against $352.8 million a year ago. Earnings before income taxes were $325 million against $268.1 million a year ago. Earnings from continuing operations were $488 million against $204.2 million a year ago. Net earnings were $457.2 million against $202.8 million a year ago. Net earnings attributable to Ingersoll-Rand Plc were $459.9 million against $198.8 million a year ago. Amounts attributable to Ingersoll-Rand Plc - continuing operations were $490.7 million against $200.2 million a year ago. Diluted earnings per share attributable to Ingersoll-Rand Plc ordinary shareholders - continuing operations were $1.93 against $0.76 a year ago. Diluted earnings per share attributable to Ingersoll-Rand Plc ordinary shareholders were $1.81 against $0.75 a year ago. Adjusted earnings from continuing operations before income taxes were $338.6 million against $299.2 million a year ago. Adjusted earnings from continuing operations attributable to Ingersoll-Rand Plc were $259.1 million against $220.6 million a year ago. Adjusted diluted earnings per common share continuing operations were $1.02 against $0.84 a year ago. Cash flow from operating activities was $650 million.
For the full year, the company reported net revenues were $14,197.6 million against $13,508.9 million a year ago. Operating income was $1,665.3 million against $1,603.2 million a year ago. Earnings before income taxes were $1,417.9 million against $1,741.3 million a year ago. Earnings from continuing operations were $1,337.7 million against $1,459.8 million a year ago. Net earnings were $1,312.3 million against $1,492.7 million a year ago. Net earnings attributable to Ingersoll-Rand Plc were $1,302.6 million against $1,476.2 million a year ago. Amounts attributable to Ingersoll-Rand Plc - continuing operations were $1,328 million against $1,443.3 million a year ago. Diluted earnings per share attributable to Ingersoll-Rand Plc ordinary shareholders - continuing operations were $5.14 against $5.52 a year ago. Diluted earnings per share attributable to Ingersoll-Rand Plc ordinary shareholders were $5.05 against $5.65 a year ago. Adjusted earnings from continuing operations before income taxes were $1,479.6 million against $1,395.4 million a year ago. Adjusted earnings from continuing operations attributable to Ingersoll-Rand Plc were $1,162.8 million against $1,080.4 million a year ago. Adjusted diluted earnings per common share continuing operations were $4.51 against $4.13 a year ago. Net cash provided by operating activities was $1,523.5 million against $1,521.9 million a year ago. Capital expenditures was $221.3 million against $182.7 million a year ago.
For the year ending December 31, 2018, the company expects revenues up 5% to 5.5%; organic revenues up 3% to 3.5% compared with 2017. Continuing EPS of $4.80 to $5.00, including EPS of $0.20 for restructuring; adjusted EPS from continuing operations of $5.00 to $5.20. GAAP effective tax rate of approximately 21% to 22%. Cash flow from operating activities of $1.45 billion to $1.55 billion. Free cash flow between $1.2 billion to $1.3 billion. The company expects free cash flow to be equal to or greater than net income for 2018. The company expects to continue to employ a balanced capital deployment strategy by reinvesting in the business, paying a strong dividend that grows at or above the rate of EPS growth, repurchasing shares and making strategic business acquisitions. Capital expenditures to be $300.0 million.
Trane Technologies plc specializes in designing, manufacturing, and marketing of air conditioning systems (heating, ventilation and air conditioning systems, etc. mainly under Trane and Thermo King brands. The group also provides temperature control equipment (refrigeration systems, controlled-temperature transportation equipment, etc.). Net sales break down by activity as follows:
- sale of equipment (67.7%);
- services and sale of spare parts (32.3%).
At the end of 2023, the group had 39 manufacturing facilities worldwide.
Net sales are distributed geographically as follows: Americas (78.2%), Europe/Middle East/Africa (13.6%) and Asia/Pacific (8.2%).
Ingersoll-Rand plc Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Year Ending December 31, 2018