Ingersoll Rand Inc. (NYSE: IR), a leader in mission-critical flow creation and life science and industrial solutions, has announced its financial results for the first quarter of 2026, showcasing solid growth despite facing challenges in certain sectors. The company reported notable achievements in revenue, adjusted EBITDA, and earnings per share, setting a strong foundation for the rest of the year.

1. Key Highlights from the Press Release

Vicente Reynal, Chairman and CEO of Ingersoll Rand, stated, “We began 2026 with solid momentum, delivering high single-digit Adjusted EPS growth and meeting our expectations for revenue and Adjusted EBITDA. With a robust M&A pipeline, we remain confident in reaching our annual revenue target.” Reynal emphasized that their Economic Growth Engine (IRX) and ownership mindset will sustain disciplined execution and value creation.

First Quarter 2026 Segment Review

Industrial Technologies and Services Segment (IT&S)

The IT&S segment, which provides a wide array of compressor, vacuum, blower, and air treatment solutions, reported the following results:

Reported Orders: $1,558 million (up 5%, down 3% organic)

Reported Revenues: $1,445 million (up 7%, down 2% organic)

Reported Segment Adjusted EBITDA: $386 million (down 1%)

Adjusted EBITDA Margin: 26.7% (down 210 basis points)

The segment's orders remained approximately flat on an organic basis when excluding the impact from the Middle East, with expectations of recovery in the latter half of the year. The revenue was in line with expectations, resulting in a book-to-bill ratio of 1.08x.

Precision and Science Technologies Segment (P&ST)

Ingersoll Rand’s P&ST segment, which specializes in precision handling technologies, achieved:

Reported Orders: $420 million (up 6%, up 1% organic)

Reported Revenues: $403 million (up 10%, up 4% organic)

Reported Segment Adjusted EBITDA: $122 million (up 15%)

Adjusted EBITDA Margin: 30.3% (up 120 basis points)

This segment exhibited strong operational execution, with a book-to-bill ratio of 1.04x and a robust increase in EBITDA margin due to effective strategies.

Financial Position and Cash Flow

Ingersoll Rand continues to maintain a strong financial position, boasting ample liquidity of $3.9 billion. The company generated $200 million in cash flow from operating activities and invested $36 million in capital expenditures, resulting in free cash flow of $163 million. This is a decrease compared to the prior year's free cash flow of $223 million.

The net debt to adjusted EBITDA leverage stood at 1.7x, reflecting a slight increase of 0.1x year-over-year.

M&A Activity

In the first quarter, Ingersoll Rand allocated $52 million towards the acquisition of Scinomix, Inc. Additionally, the company announced a new acquisition of Fox s.r.l., a manufacturer of hydropneumatic accumulators, set to close on April 30, 2026. This move is expected to enhance their capabilities in dosing pumps.

2026 Guidance

Ingersoll Rand is maintaining its full-year guidance for 2026, projecting:

Revenue Growth: 2.5% to 4.5%

Adjusted EBITDA: $2,130 million to $2,190 million

Adjusted EPS: $3.45 to $3.57 (5% growth at the midpoint)

Free Cash Flow to Adjusted Net Income conversion: ~95%

The company anticipates that recent changes in Section 232 tariffs and the ongoing conflict in the Middle East will not significantly impact its annual guidance.

Upcoming Conference Call

Ingersoll Rand will discuss these results in more detail during a live earnings conference call on April 29, 2026, at 8:00 a.m. (Eastern Time). Interested parties are invited to join the call to delve deeper into the company’s performance and future outlook.

Conclusion

Ingersoll Rand's strong first-quarter performance in 2026 underscores its ability to navigate a complex market landscape while maintaining growth momentum. The company’s focus on strategic acquisitions and disciplined execution positions it well to achieve its annual revenue targets and create lasting value for its stakeholders. As the year progresses, Ingersoll Rand’s commitment to innovation and operational excellence will be key in sustaining this growth trajectory.

Original press release