01—Abstract
Summary
Summary of the 10-Q filed April 29, 2026. Cited figures are marked; the original filing is the authoritative source.
Ingersoll Rand Inc. reported first-quarter 2026 revenues of $1,847.2 milliona, up from $1,716.8 million in the same period of 2025, with the filing attributing the increase primarily to favorable foreign currency impact of $72.4 million and acquisitions of $63.9 million, partially offset by lower organic revenues of $5.9 million.
Net income attributable to Ingersoll Rand Inc. rose to $192.1 millionb from $186.5 million, and diluted earnings per share were $0.49 compared with $0.46. Gross profit margin fell to 42.9% from 44.6%, which management attributed to unfavorable cost leverage on lower organic revenues, unfavorable product mix, and tariff-related pricing. Adjusted EBITDA increased to $469.1 million from $459.7 million, although its margin declined to 25.4% from 26.8%.
Cash generation weakened in the quarter. Operating cash flow was $199.7 millionc versus $256.4 million a year earlier, and Free Cash Flow was $163.4 million versus $222.7 million, driven by higher working capital use and tax payments. The company repurchased $89.5 million of treasury stock during the quarter.
Cash and cash equivalents were $1,274.4 milliond at March 31, 2026, against total debt of $4,778.8 million, and the company reported $2,600.0 million of unused availability under its Revolving Credit Facility and Commercial Paper Program. Segment results diverged. Industrial Technologies and Services revenues grew 6.8% to $1,444.5 million, but its Segment Adjusted EBITDA declined 0.9% to $385.5 million as margin fell 210 basis points to 26.7%.
Precision and Science Technologies revenues rose 10.4% to $402.7 million and Segment Adjusted EBITDA rose 14.8% to $121.9 million. The company also completed the acquisition of Scinomix, Inc. for $46.7 million cash consideration in January 2026, and management noted that tariffs have not had a material impact to date but could be material in the future.
02—Key points
Key Highlights
- Revenues rose 7.6% to $1,847.2 million, driven by $72.4 million of favorable foreign currency impact and $63.9 million from acquisitions, with lower organic revenues of $5.9 million.
- Net income attributable to Ingersoll Rand Inc. increased to $192.1 million from $186.5 million; diluted EPS was $0.49 versus $0.46.
- Gross profit margin declined to 42.9% from 44.6%, reflecting unfavorable cost leverage, product mix and tariff-related pricing.
- Free Cash Flow fell to $163.4 million from $222.7 million as operating cash flow decreased to $199.7 million from $256.4 million on higher working capital use and tax payments.
- Industrial Technologies and Services Segment Adjusted EBITDA declined 0.9% to $385.5 million, while Precision and Science Technologies Segment Adjusted EBITDA rose 14.8% to $121.9 million.
- Effective tax rate fell to 15.7% from 23.1%, primarily due to a benefit from a windfall tax deduction.
- Share repurchases totaled $89.5 million in the quarter, and the company held $2,600.0 million of unused credit availability alongside $1,274.4 million of cash at March 31, 2026.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q1 FY2026, Ingersoll Rand kept $0.10.
- Revenue$1.85B100.0%
- Cost of revenue−$1.05B57.1%
- Gross profit$792.4M42.9%
- Operating costs−$502.7M27.2%
- Operating income$289.7M15.7%
- Interest, other & tax−$97.6M5.3%
- Net income$192.1M10.4%
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed April 29, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $1.85B$1.72B | +7.6% |
| Cost of Revenue | $1.05B$951.30M | +10.9% |
| Gross Profit | $792.40M$765.50M | +3.5% |
| SG&A Expenses | $370.70M$350.00M | +5.9% |
| Operating Income | $289.70M$302.50M | −4.2% |
| Net Income | $192.10M$186.50M | +3.0% |
| EPS (Basic) | $0.49$0.46 | +6.5% |
| EPS (Diluted) | $0.49$0.46 | +6.5% |
| Shares Outstanding (Basic) | 391.40M403.10M | −2.9% |
| Shares Outstanding (Diluted) | 394.00M406.40M | −3.1% |
05—Questions
Frequently Asked Questions
How did Ingersoll Rand's revenue and profitability change in the first quarter of 2026?
Revenues increased to $1,847.2 million from $1,716.8 million, primarily due to favorable foreign currency impact of $72.4 million and acquisitions of $63.9 million. Net income attributable to Ingersoll Rand Inc. rose to $192.1 million from $186.5 million, and Adjusted EBITDA increased to $469.1 million from $459.7 million. However, gross profit as a percentage of revenue declined to 42.9% from 44.6%.
Why did free cash flow decline in the quarter?
Free Cash Flow decreased to $163.4 million from $222.7 million. The filing attributes the lower operating cash flow of $199.7 million (versus $256.4 million) to an increase in cash used in operating working capital and higher tax payments in 2026, partially offset by higher net income excluding non-cash adjustments.
What acquisitions did Ingersoll Rand complete in 2026?
On January 5, 2026, the company acquired Scinomix, Inc. for cash consideration of $46.7 million; it manufactures automation equipment for life-science laboratories and is reported within the Precision and Science Technologies segment. The company also completed a sales and service business acquisition for an aggregate consideration of $2.0 million, reported within the Industrial Technologies and Services segment.
How is the company's liquidity and debt position?
As of March 31, 2026, cash and cash equivalents were $1,274.4 million and total debt was $4,778.8 million. The company had no outstanding borrowings under its $2,600.0 million Revolving Credit Facility or Commercial Paper Program, and it reported being in compliance with all debt covenants.
What did management say about tariffs and economic uncertainty?
Management stated that tariff developments and trade policy changes have not had a material impact on financial condition or results to date. However, given their evolving nature, management said it cannot predict their ultimate impact and that those impacts could be material. The company is monitoring developments and has implemented tariff-related pricing to offset tariff cost increases.
06—Continue