Ingersoll Rand Reports Q3 2026 Results, Raises Buyback Program by $2B, Updates Guidance

Executive Summary

On October 29, 2026, Ingersoll Rand Inc. (NYSE: IR) filed a Form 8-K under Item 2.02 reporting its third-quarter 2026 financial results. The company delivered strong organic order and revenue expansion, driven by execution across both segments, authorized a $2 billion expansion of its share repurchase program, and updated its full-year 2026 guidance.

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Key Financial Highlights (Q3 2026 vs. Q3 2025)

• Revenues: $2,065 million, up 6% YoY (+4% organic).
• Orders: $2,345 million, up 21% YoY (+18% organic), led by book-to-bill strength (1.17x in IT&S).
• GAAP Net Income: $670 million ($1.73 per diluted share).
• Adjusted Net Income: $415 million ($1.07 per share), up 24% YoY (or $390 million / $1.01 per share, up 17%, excluding IEEPA Tariff Refunds).
• Adjusted EBITDA: $584 million (28.3% margin), up 7% YoY (or $552 million / 26.7% margin excluding IEEPA Tariff Refunds).
• Cash Flow: Operating cash flow of $648 million; Free cash flow of $623 million (vs. $326 million in Q3 2025).
• Liquidity & Leverage: Total liquidity of $3.9 billion ($1.3 billion cash, $2.6 billion undrawn credit). Net debt-to-Adjusted EBITDA leverage stood at 1.6x, down 0.2x YoY.

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Segment Performance

1. Industrial Technologies and Services (IT&S):

   • Orders: $1,898 million (+25% YoY reported, +22% organic), boosted by a ~$195 million engineered-to-order infrastructure project booking.
   • Revenues: $1,620 million (+5% YoY, +4% organic).
   • Adjusted EBITDA: $476 million (+6% YoY; 29.4% margin).

2. Precision and Science Technologies (P&ST):

   • Orders: $448 million (+7% YoY, +4% organic).
   • Revenues: $445 million (+7% YoY, +6% organic), with strength in Life Sciences.
   • Adjusted EBITDA: $153 million (+20% YoY; 34.3% margin).

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Capital Allocation & M&A Updates

• Share Repurchase Expansion: Board authorized an additional $2.0 billion for share buybacks, added to $313 million remaining under existing authority, with no expiration date.
• Capital Deployed: During Q3 2026, IR deployed $90 million to M&A (including Lone Star Blower, Inc.) and returned $358 million to shareholders ($350 million repurchases, $8 million dividends).
• Upcoming M&A: Scheduled to close the acquisition of a U.S.-based pump manufacturer on October 30, 2026.
• ILC Dover Recoveries: Reached settlement agreements with insurance carriers/third parties for gross recoveries of ~$425.1 million ($25.0 million in Q2, $162.5 million in Q3, balance in Q4 2026).

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Updated Full-Year 2026 Guidance

Metric	Full Year 2026 Guidance	Core Assumptions
Revenue Growth	5.5% to 7.0%	Organic: +2.0% to +3.5%; M&A: ~+2.5%; FX: ~+1.0%
Adjusted EBITDA (excl. Q3 IEEPA refunds)	$2,130M – $2,190M	Corporate costs: ~$170M
Adjusted Diluted EPS (excl. Q3 IEEPA refunds)	$3.58 to $3.70	Net interest: ~$230M; Tax rate: ~20%; Shares: ~390.5M
Free Cash Flow Conversion	100%+	~95% excluding ILC Dover recoveries; CapEx ~2% of sales