Published July 20, 2012
Reuters
Ingersoll Rand Plc reported higher-than-expected second- quarter profit on Friday, helped by stronger sales and margins in its industrial segment, but said North American and Asian industrial markets were slowing.
The maker of Trane air conditioners, Schlage locks and Club Car golf carts earned $365.8 million, or $1.16 per share, compared with $92.3 million, or 26 cents, a year earlier.
Excluding a tax benefit and other items, Ingersoll earned $1 a share, 9 cents ahead of Wall Street estimates, according to Thomson Reuters I/B/E/S.
Sales fell 7 percent to $3.82 billion, below estimates of $3.88 billion.
Ingersoll, whose competitors include United Technologies Corp's Carrier unit and Lennox International Inc , said its markets showed uneven demand, with moderate growth in the United States, Asia and Latin America offsetting a weak Europe.
It expects full-year earnings from continuing operations between $3.15 and $3.25 a share. It was not immediately clear whether the forecast included a tax benefit of 15 cents a share reported in the quarter.
No comments:
Post a Comment