DAVIDSON, N.C. (AP) — DAVIDSON, N.C. (AP) — Ingersoll Rand Inc. (IR) on Thursday reported fourth-quarter net income of $229.8 million.
On a per-share basis, the Davidson, North Carolina-based company said it had profit of 57 cents. Earnings, adjusted for one-time gains and costs, came to 84 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 84 cents per share.
The maker of flow control and compression equipment posted revenue of $1.9 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $1.91 billion.
For the year, the company reported profit of $838.6 million, or $2.06 per share. Revenue was reported as $7.24 billion.
Ingersoll expects full-year earnings in the range of $3.38 to $3.50 per share.
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