=Ingersoll-Rand (IR) reported earnings on Wed 25 Oct 2017 (b/o)

Ingersoll-Rand beats by $0.01, reports revs in-line; reaffirms FY17 guidance

• Reports Q3 (Sep) earnings of $1.44 per share, excluding non-recurring items, $0.01 better thanthe Capital IQ Consensus of $1.43; revenues rose 2.9% year/year to $3.67 bln vs the $3.71 bln Capital IQ Consensus. Bookings up 6 percent; strong organic bookings growth of 5 percent with growth across all businesses. Enterprise revenue up 3 percent, organic revenue up 2 percent; North America up 2 percent and international up 1 percent organically.
• "We delivered strong bookings growth in both our Climate and Industrial segments and low-single digit organic revenue growth. Our Industrial segment continues to perform ahead of our expectations with significant margin improvement on relatively flat revenue and our Transport business is performing well in a challenging market as anticipated. We continue to have success driving strong growth in highly competitive verticals in commercial HVAC in China and in the Middle East which negatively impacted enterprise adjusted operating margins by more than 50 basis points in the quarter. "Additionally, while our teams have been resilient and have performed well managing through an unprecedented number of natural disasters in the third quarter, we estimate the negative financial impact from natural disasters was approximately $0.04 to $0.05 in Q3. Our business operating system remains strong and the outlook for our end markets continues to present good opportunities for profitable growth. However, our leverage for 2017 is below our expectations and we expect to drive improvement in 2018 and beyond. While we forecast material inflation and pricing pressures to moderate as we move through 2018, we are nonetheless planning to execute more aggressive productivity initiatives to underpin our margin expansion plans."
• Co reaffirms guidance for FY17, sees EPS of $4.50, excluding non-recurring items, vs. $4.53 Capital IQ Consensus Estimate; sees FY17 revs of +4.5% to ~$14.1 bln vs. $14.1 bln Capital IQ Consensus Estimate.