BUZZ-Ingersoll Rand slumps after 2025 profit forecast cut

Reuters
02 May
BUZZ-Ingersoll Rand slumps after 2025 profit forecast cut

** Air compressor maker Ingersoll Rand IR.N shares fall 4% to $73 premarket

** Co trimmed full-year adj. profit forecast, expecting sluggish demand for its products

** Co expects 2025 adj. profit to be between $3.28 and $3.40/share, down from $3.38 to $3.50/share

** IR posts Q1 profit of 72 cents/share, narrowly missing estimates of 73 cents/share, as per data compiled by LSEG

** Co's posts Q1 revenue of $1.72 bln, compared to the analysts' average estimate of $1.73 bln

** 9 of 17 brokerages rate the stock "buy" or higher, 8 hold; their median PT is $94 - LSEG

** As of last close, stock had fallen 15.8% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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