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BUZZ-Ingersoll Rand falls after cutting FY revenue growth forecast

Reuters·11/01/2024 12:33:53
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BUZZ-Ingersoll Rand falls after cutting FY revenue growth forecast

** Air compressor maker Ingersoll Rand's IR.N shares down 3% at $94 premarket

** Company trimmed FY forecast for revenue growth on Thursday, after missing Q3 revenue estimates on sluggish demand for its air compressors

** IR expects annual revenue growth between 5% and 7%, down from earlier 6% to 8%

** Q3 revenue of $1.86 bln, missed analysts estimates of $1.87 bln - LSEG

** As of last close, stock up 24% YTD


(Reporting by Anshuman Tripathy in Bengaluru)

((Anshuman.Tripathy@thomsonreuters.com;))