Ingersoll Rand Inc (NYSE:IR)

$ 102.98 5.28 (5.4%) Market Cap: 41.50 Bil Enterprise Value: 42.84 Bil PE Ratio: 50.23 PB Ratio: 4.04 GF Score: 83/100

Q2 2024 Ingersoll Rand Inc Earnings Call Transcript

Aug 01, 2024 / 12:00PM GMT

Release Date Price: $91.23 (-9.13%)

Transcript 10-Q8-K

Key Points

Positve

Ingersoll Rand Inc (IR) delivered record results in Q2 2024, demonstrating strong execution despite a challenging macroeconomic environment.
The company raised its full-year 2024 guidance based on solid performance and continued operational execution.
Ingersoll Rand Inc (IR) completed several strategic acquisitions, including ILC Dover, which are expected to contribute significantly to revenue and growth.
The biopharma segment, particularly GLP-1 and ADC therapies, is expected to deliver double-digit growth, driven by high market demand.
The company maintained a strong liquidity position with $3.7 billion in total liquidity and a net leverage ratio of 2.0 turns, expected to decrease to 1.5 turns by year-end.

Negative

Organic orders declined by 1% in Q2, reflecting a challenging macroeconomic environment and elongated decision-making processes.
China's market performance was a significant drag, leading to a reduction in organic growth expectations for the second half of 2024.
The aerospace and defense segment underperformed, with revenue expectations down by approximately $30 million due to lower activity levels.
Despite strong overall performance, the PST segment saw a sequential decline in adjusted EBITDA margins, attributed to normal course revenue mix.
The company walked away from a large acquisition opportunity due to valuation concerns, indicating potential challenges in finding suitable M&A targets at acceptable prices.

Editor

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Operator

Welcome to the Ingersoll Rand second-quarter 2024 earnings call. (Operator Instructions) I will now turn the call over to Matthew for Vice President of Investor Relations. You may begin your conference.

Matthew Fort

Ingersoll Rand Inc - Vice President, Investor Relations

Thank you, and welcome to the Ingersoll Rand 2024 second quarter earnings call by Matthew for Vice President of Investor Relations. And joining me this morning are subject a little Chairman and CEO, and David Kinney, Chief Financial Officer. We issued our earnings release and presentation yesterday, and we since these during the call, both are available on the Investor Relations section of our website. In addition, a replay of this conference call will be available later today.

Before we start, I wanted to remind everyone that certain statements on this call are forward-looking in nature and are subject to risks and uncertainties discussed in our previous SEC filings. Please review the forward-looking

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