Bermuda-based diversified manufacturer Ingersoll-Rand Co. on Wednesday reaffirmed its full-year earnings outlook, but issued second-quarter guidance just below Wall Street's estimates.
The company still expects earnings from continuing operations of between $3.80 and $3.90 per share for Ingersoll-Rand (nyse: IR - news - people ) and air conditioner maker Trane Inc. combined. A cost of 15 cents per share from discontinued operations is expected.
Analysts, on average, estimate full-year profit of $3.72 per share, according to a poll by Thomson Financial. Analyst estimates typically exclude one-time, unusual items.
The company expects one-time charges associated with the Trane acquisition to range between 30 cents and 45 cents per share. The charges are not reflected in the full-year forecast.
Ingersoll-Rand announced its $9.5 billion purchase of Trane, formerly American Standard Cos., in December. The deal is expected to close by the end of May.
Ingersoll-Rand expects the combined company to generate revenue of about $17 billion in 2008, up from a previous estimate of $14.2 billion.
For the second quarter, Ingersoll-Rand forecasts earnings per share from continuing operations of between 85 cents and 90 cents. A cost of 1 penny per share from discontinued operations is expected. One-time charges related to the Trane acquisition are not included in the estimates, the company said.
Analysts, on average, anticipate second-quarter earnings of 91 cents per share.
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Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.
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