July 19 Ingersoll-Rand Plc, the maker of Trane air conditioners and Schlage locks, posted a lower quarterly profit due to weak demand for its industrial equipment and commercial security systems.
Net income attributable to the company for the second quarter fell 13.3 percent to $317.2 million, or $1.05 per share, from $365.8 million, or $1.16 per share, a year earlier.
Net income per share from continuing operations was $1.03.
Ingersoll-Rand narrowed its profit forecast by 5 cents on both sides to a range of $3.50 to $3.60 per share. The company had previously forecast a range of $3.45 to $3.65 per share.