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Ingersoll Rand Delivers Fourth-Quarter EPS From Continuing Operations Of $0.77

Stocks in this article: IR

Ingersoll-Rand plc (NYSE:IR), a world leader in creating and sustaining safe, comfortable and efficient environments, today reported that total revenues, excluding the divested Hussmann refrigeration business, were flat for the fourth quarter of 2012 compared with the 2011 fourth quarter. Diluted earnings per share from continuing operations were $0.77.

The company reported net earnings of $235.6 million, or EPS of $0.78, for the fourth quarter of 2012. Fourth-quarter net earnings included $234.7 million, or EPS of

$0.77, from continuing operations, as well as $0.9 million of income, or EPS of $0.01, from discontinued operations. Continuing operations included EPS of $0.01 from tax benefits related to the disposition of Hussmann. Excluding these items, adjusted EPS from continuing operations for the fourth quarter of 2012 was $0.76.

This compares with reported net earnings of $242.2 million, or EPS of $0.76, for the fourth quarter of 2011. Fourth-quarter 2011 net earnings included $249.4 million, or EPS of $0.79, from continuing operations, as well as $7.2 million of costs, or EPS of $(0.03), from discontinued operations. Continuing operations included EPS of $0.03 related to the disposition of Hussmann. Excluding these items, adjusted EPS from continuing operations for the fourth quarter of 2011 was $0.76. (See EPS table)

 

EPS for Q4 and Full Year

       

Q4

       

Full Year

2012

     

2011

2012

     

2011

EPS from Continuing Operations

$

0.77

$

0.79

$

3.30

$

1.18

 

Adjustments:

 

  • Asset Impairment/Loss(Gain) on Sale
 

 

(0.01

 

)

 

 

(0.03

 

)

 

 

(0.01

 

)

 

1.64

Adjusted EPS from Continuing Operations $ 0.76 $ 0.76   $ 3.29   $ 2.82
 

Full-Year Results

Full-year 2012 net revenues were $14,035 million and declined by 5 percent compared with reported net revenues of $14,782 million in 2011. Excluding the results of the divested Hussmann business, 2012 revenues increased by 1 percent. Operating income for 2012 totaled $1,505 million ($1,501 million when adjusted for impairment) compared with $860 million in 2011 ($1,449 million excluding impairment and Hussmann).

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