This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ingersoll Rand Delivers Third-Quarter EPS From Continuing Operations Of $1.07

Stocks in this article: IR

HVAC revenues were up low teens compared with the third quarter of 2011 due to improving market conditions and market share gains in air conditioning units and furnaces. Third-quarter segment operating margin was 8.1 percent, an increase of 4.3 percentage points, compared with 3.8 percent recorded in 2011. The segment margin increase was due to increased volume, improved productivity and higher pricing, which were partially offset by inflation and an unfavorable revenue mix shift to lower efficiency and opening price point air conditioning products.

Security Technologies is a leading global supplier of commercial security products and services. The segment’s market-leading products include mechanical and electronic security products, biometric and access-control systems, and security and time and attendance scheduling software. Third-quarter revenues of $391 million decreased by approximately 7 percent (down 4 percent excluding currency) compared with the third quarter of 2011. Revenues in the Americas were down by low single digits, as price improvements were more than offset by lower volumes. Revenues in overseas markets also decreased primarily due to declining construction markets and currency translation. Third-quarter segment operating margin was 21.5 percent, up slightly compared with the third quarter of 2011. The higher segment operating margin was due to higher productivity and improved pricing, partially offset by inflation, unfavorable revenue mix and increased investment spending.

Balance Sheet

During the third quarter, working capital was 3.9 percent of revenues and increased slightly compared with 2011. Cash balances and total debt balances were $0.9 billion and $3.3 billion, respectively, at the end of the third quarter. The company repurchased 7.6 million shares during the third quarter. Approximately 10.8 million shares have been repurchased for approximately $480 million as of Oct. 18, 2012. The company expects to spend a total of $840 million during 2012 to complete the current $2 billion share repurchase authorization. Approximately 47 million shares have been repurchased for $1.6 billion since the program’s inception in June of 2011.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,334.74 -343.96 -1.95%
S&P 500 2,029.72 -27.37 -1.33%
NASDAQ 4,690.9880 -80.7750 -1.69%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs