Ingersoll Rand Third-Quarter Orders Jump 21%; Board Adds $2 Billion to Buyback

Ingersoll Rand's third-quarter orders jumped 21% to $2.35 billion, outpacing a 6% rise in revenue, and its board added $2 billion to the company's share buyback program, according to the earnings release the industrial equipment maker filed with an 8-K on Thursday after the market close.

Revenue rose to $2.07 billion from $1.96 billion a year earlier, with organic revenue up 4%. Organic orders grew 18%.

Net income attributable to Ingersoll Rand nearly tripled to $670 million, or $1.73 a share, from $244 million, or 61 cents, helped by $355 million of net other operating income in the quarter. Adjusted earnings were $1.07 a share, up 24%. Excluding refunds of tariffs collected under the International Emergency Economic Powers Act, adjusted earnings were $1.01 a share, up 17%.

"We delivered strong organic orders growth and revenue performance in the third quarter, reflecting an improved demand environment and continued execution by our teams," Chairman and CEO Vicente Reynal said in the release.

A big order lifts industrial bookings

The Industrial Technologies and Services segment, which sells compressors, vacuum pumps, blowers and power tools, booked $1.90 billion of orders, up 25%, or 22% on an organic basis. Revenue rose 5% to $1.62 billion.

The company said bookings were helped by long-cycle projects, including an order of about $195 million for an engineered-to-order system for "large-scale, mission-critical infrastructure." Excluding tariff refunds, the segment's adjusted EBITDA margin fell 120 basis points from a year earlier to 27.8%, which the company largely blamed on inflation.

The Precision and Science Technologies segment grew revenue 7% to $445 million, and its adjusted EBITDA rose 20% to $153 million. Life sciences orders and revenue were up by low double digits, the company said.

Cash, buybacks and insurance recoveries

Operating cash flow climbed to $648 million from $355 million, and free cash flow rose to $623 million from $326 million. Liquidity stood at $3.9 billion at the end of September.

The new $2 billion repurchase authorization comes on top of $313 million left under the existing plan and has no expiration date. In the quarter, Ingersoll Rand bought back $350 million of stock, paid $8 million in dividends and spent $90 million on acquisitions, including Lone Star Blower. It expects to close the purchase of a U.S.-based pump maker on Oct. 30.

The company also said it reached settlement agreements with insurance carriers and other third parties tied to its ILC Dover transaction for gross recoveries of about $425.1 million. It collected $25.0 million in the second quarter and $162.5 million in the third, and expects to collect the rest in the fourth quarter.

Updated 2026 outlook

Ingersoll Rand now expects 2026 revenue growth of 5.5% to 7.0%, including organic growth of 2% to 3.5%. It forecast adjusted EBITDA of $2.13 billion to $2.19 billion and adjusted earnings of $3.58 to $3.70 a share, both excluding the third-quarter tariff refunds.

The company plans to discuss the results on a conference call at 8 a.m. ET on Friday.

Sources

1. Ingersoll Rand Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 29, 2026 (accession 0001628280-26-068260)

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