Ingersoll Rand (IR) Q3 2026 earnings summary

Executive summary

• Orders rose 21% to $2,345.1M, including 18.2% organic growth; revenue increased 5.6% to $2,064.9M, including 3.9% organic growth.

• Adjusted EBITDA was $584.4M, with a 28.3% margin; excluding IEEPA tariff refunds, EBITDA was $552M and margin was 26.7%.

• FY26 guidance calls for 5.5%–7.0% revenue growth, $2,130M–$2,190M adjusted EBITDA and $3.58–$3.70 adjusted EPS.

Financial highlights

• Revenue was $2,064.9M versus $1,955.0M; adjusted EBITDA was $584.4M versus $544.6M, and adjusted EBITDA margin was 28.3% versus 27.9%.

• Adjusted net income was $416.6M; adjusted net income attributable to shareholders was $414.9M, or $1.07 adjusted diluted EPS, up 24%.

• Excluding IEEPA tariff refunds, adjusted net income attributable to shareholders was $390M, or $1.01 per share, up 17%.

• Reported net income was $671.6M versus $245.8M; net income attributable to shareholders was $669.9M, or $1.73 diluted EPS.

• Orders were $2,345.1M versus $1,942.3M; organic orders grew 18.2%, with book-to-bill of 1.14x.

Outlook and guidance

• FY26 revenue growth guidance is 5.5%–7.0%, comprising 2%–3.5% organic growth, ~1% currency impact and ~2.5% M&A contribution.

• FY26 adjusted EBITDA guidance is $2,130M–$2,190M, excluding Q3 IEEPA tariff refunds; adjusted EPS guidance is $3.58–$3.70 on the same basis.

• Free cash flow to adjusted net income conversion is expected at 100%+ including ILC Dover-related recoveries; excluding recoveries, conversion is expected at ~95%.

• Assumptions include ~$170M corporate costs, ~$230M net interest expense, ~20% adjusted tax rate, ~390.5M shares and capex of ~2% of sales.