Oct 30 (Reuters) - Ingersoll Rand IR.N trimmed its full-year profit forecast on Thursday as tariffs bit into the air compressor maker's margins, sending its shares down more than 7% in after-hours trading.
U.S. President Donald Trump's tariffs on the import of raw materials such as steel and aluminum have prompted businesses to reconsider their strategies, adding pressure to an already-strained supply chain.
The company now expects full-year adjusted earnings per share to range between $3.25 and $3.31, compared to its prior forecast of $3.34 to $3.46 per share.
Analysts' expectations for annual profit were at $3.37 per share, according to data compiled by LSEG.
The Davidson, North Carolina-based company reported a quarterly adjusted profit of 86 cents per share, which came in line with estimates.
The company's industrial unit, which makes air compressors and other specialized industrial products used in various manufacturing industries, reported a 7% rise in orders for the third quarter.
Ingersoll also said that the segment's adjusted EBITDA margin was down year-on-year due to declining organic volumes and the dilutive impact of tariffs.
Total revenue for the third quarter came in at $1.96 billion, compared to the analysts' average estimate of $1.95 billion.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Alan Barona)
((Anshuman.Tripathy@thomsonreuters.com))