Ingersoll Rand Inc. Q3 2026 Earnings Recap

Ingersoll Rand reported 4% organic revenue growth and raised full-year revenue and adjusted EPS guidance; the stock was essentially flat, up 0.2% after earnings. The quarter also showed a mixed margin picture: adjusted EBITDA margin was down year over year excluding tariff refunds, though it improved sequentially.

Key Takeaways

• Orders were $2.35 billion, up 21% year over year, with organic orders up 18%; excluding a large engineered-to-order win, organic orders still grew at a high-single-digit rate.
• Revenue was $2.1 billion, up 6% reported and 4% organically. Aftermarket revenue was 36% of the total and grew at a mid-single-digit rate.
• Adjusted EBITDA was $552 million excluding $32 million of tariff refunds, up 1% year over year, with a 26.7% margin. Margin was pressured by inflation and China pricing, but improved 130 basis points sequentially.
• Adjusted EPS was $1.01 excluding tariff refunds, up 17% year over year. The company raised full-year revenue and adjusted EPS guidance and expects an adjusted tax rate of approximately 20%.
• Ingersoll Rand closed its acquisition of IVEK, adding about $40 million in annual revenue to its Life Science business; it also authorized a $2 billion increase to its share repurchase program.