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Behind Ingersoll Rand’s Outstanding 1Q16

Was 1Q16 Really Such an Outstanding Quarter for Ingersoll Rand?

Market reaction to Ingersoll Rand’s 1Q16

Ingersoll Rand (IR) announced its 1Q16 results on April 26, 2016, before market hours. Better-than-expected 1Q16 earnings initially sent IR’s shares to a high of $67.48 in early trading. The stock closed at $65.39, which was 2.5% lower than the opening price of $67.06.

On a yearly basis until April 26, 2016, IR declined by 4.7% against a 1.4% decrease in the broad-based S&P 500 Index (SPY). But YTD (year-to-date) as of April 26, 2016, IR is ahead by 20.2%.

Ingersoll-Rand’s EPS beats markets

On a quarterly basis, IR’s adjusted EPS (earnings per share) stood at $0.50, which is 38.9% above the consensus of $0.36 per share. EPS was at $0.38 this time last year. In 1Q16, EPS was favorably impacted by operational productivity, cost reduction initiatives, and lower commodity prices.

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IR’s peers are Honeywell (HON), ABB Limited (ABB), and Lennox International (LII). HON’s 1Q16 EPS stood at $1.63 per share, which is 15.6% higher than its EPS of $1.41 in 1Q15. ABB’s 1Q16 EPS stood at $0.28 per share, which is 12.0% higher than its EPS of $0.25 in 1Q15. LII 1Q16 EPS stood at $0.60 per share, which is 62% higher than its EPS of $0.37 in 1Q15.

Now let’s take a closer look at Ingersoll Rand’s 1Q16 revenues.

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