Ingersoll Rand cuts annual profit forecast amid demand slowdown
May 1 (Reuters) - Air compressor maker Ingersoll Rand IR.N trimmed its full-year adjusted profit forecast on Thursday, expecting sluggish demand for its products.
The company now expects annual adjusted profit to be between $3.28 and $3.40 per share, down from its previous expected range of $3.38 to $3.50 per share.
On average, analysts expect the company to report an adjusted profit of $3.40 per share in 2025, according to data compiled by LSEG.
Shares of the company were down close to 6% in aftermarket trading and have fallen 15.8% since the start of the year.
"We recognize the dynamic nature of the current environment, and remain focused on staying agile," said CEO Vicente Reynal.
Persistent supply chain constraints and inflation-driven higher material costs have also negatively impacted the company's performance.
The company reported an adjusted profit of 72 cents per share in the first quarter, narrowly missing estimates of 73 cents per share.
Revenue for the quarter ended March 31 was $1.72 billion, compared to the analysts' average estimate of $1.73 billion.
Related Articles
Coca Cola (KO) Q4 Earnings Preview: Look for the Upside in the AI Initiatives, not in the Revenue and the EPS
Coca-Cola (KO) enters its fourth-quarter 2025 earnings call tomorrow with significant momentum. However, a fundamental shift is occurring.
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
