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Ingersoll-Rand plc Reaffirms FY 2013 Guidance; Issues Q2 2013 Guidance; EPS Guidance Below Analysts' Estimates


Tuesday, 23 Apr 2013 07:00am EDT 

Ingersoll-Rand plc reaffirmed fiscal 2013 guidance and expects revenues to be in the range of $14.2 billion to $14.6 billion with full-year adjusted earnings per share (EPS) from continuing operations to be in the range of $3.45 to $3.65. Costs related to the proposed spinoff of the residential and commercial security businesses and restructuring expenses are expected to be in the range of $0.40 to $0.60 per share. Including these costs, EPS for fiscal 2013 continuing operations are expected to be in the range of $2.85 to $3.25. The forecast includes a tax rate of 23 percent for continuing operations and an average diluted share count for the full year of approximately 300 million shares. For second quarter of 2013, it expects revenues to be in the range of $3.8 billion to $3.9 billion. Adjusted EPS from continuing operations for the second quarter of 2013 are expected to be in the range of $1.05 to $1.10, with reported EPS of $0.99 to $1.04 including security business spinoff and restructuring costs equal to approximately $0.06 per share. The second-quarter forecast reflects an ongoing tax rate of 23% for continuing operations and an average diluted share count of approximately 300 million shares. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $14.5 billion and EPS of $3.61 for fiscal 2013; revenue of $3.9 billion and EPS of $1.13 for second quarter of 2013. 

Company Quote

55.53
-0.83 -1.47%
1 Oct 2014