Ingersoll Rand (IR) Q2 FY26 earnings call

Earnings call· Jun 2026 (Q2 FY26)· Industrials· Jul 31, 2026

Source: earnings call transcript

Ingersoll Rand delivered a solid Q2 FY26 with broad-based organic growth and strong free cash flow, leading to a raised full-year revenue outlook and adjusted EPS expected at the high end of the range. Despite some margin pressure in ITS due to China pricing and investments, the company saw encouraging double-digit organic order growth in July, signaling a recovery in long-cycle projects and continued short-cycle strength. M&A remains a key strategic driver, with two new acquisitions announced and a robust pipeline.

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IR operating KPIs by quarter

IR operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2024 Q4 FY24	Jun 2025 Q2 FY25	Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	Mar 2026 Q1 FY26	This call Jun 2026 Q2 FY26	Change vs prior quarter
Book-to-bill ratio	0.95 ratio Book-to-bill for the quarter was 0.95, finishing in line with our previous guidance of above 1x in the first half and below 1x in the second half. Source: earnings call transcript	1.03 ratio Orders continued their strong start, up 8% year-over-year with a book-to-bill of 1.03x. Source: earnings call transcript	0.99 ratio Orders showed continued strength in the third quarter, up 8% year-over-year or up 2% organically with a book-to-bill of 0.99x. Source: earnings call transcript	0.93 ratio Consistent with normal seasonality, fourth quarter book-to-bill finished at 0.93x. Source: earnings call transcript	1.07 ratio Orders finished up 5% year-over-year, resulting in a book-to-bill of 1.07x, which is consistent with normal seasonality. Source: earnings call transcript	1 ratio Book-to-bill finished at 1.0 turns slightly lower than we typically see in the second quarter, primarily reflecting the delayed timing of several large project orders. Source: earnings call transcript	-6.5%
Book-to-bill ratio IT&S	—	1.05 ratio Book-to-bill was 1.05x. Source: earnings call transcript	—	—	1.08 ratio Book-to-bill for the quarter was 1.08x. Source: earnings call transcript	—	—
Book-to-bill ratio P&ST	—	0.96 ratio Q2 orders in PST (sic) [ P&ST ] were up 13% year-over-year with a book-to-bill of 0.96x. Source: earnings call transcript	1.01 ratio Q3 orders in PST were up 11% year-over-year with a book-to-bill of 1.01x. Source: earnings call transcript	0.96 ratio Q4 orders in PST were up 6% year-over-year with a book-to-bill of 0.96x. Source: earnings call transcript	1.04 ratio Q1 orders in PST were up 6% year-over-year with a book-to-bill of 1.04x. Source: earnings call transcript	—	+8.3%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.