Ingersoll Rand (IR) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter increased slightly compared to the immediately preceding period, continuing a trend of growth. Relative to the same quarter one year earlier, revenue rose substantially.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter increased slightly compared to the immediately preceding period, continuing a trend of growth. Relative to the same quarter one year earlier, revenue rose substantially.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.6B
Revenue reported for this quarter.
Quarter-over-quarter
+0.3%
Change from the immediately preceding quarter.
Year-over-year
+21.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$6.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $1.4B | +12.6% |
| Sep 30, 2022 | $1.5B | +14.4% |
| Dec 31, 2022 | $1.6B | +14.4% |
| Mar 31, 2023 | $1.6B | +21.9% |
Revenue performance
The reported revenue direction was upward, though the magnitude of change from the prior quarter was minimal. The year-over-year comparison showed a much stronger gain.
Quarterly comparison
Revenue was essentially flat versus the immediately preceding quarter, while the comparison with the same quarter one year earlier reflected a significant increase.
What to watch
The company's liquidity position and compliance with debt covenants, as discussed in the filing, warrant continued attention.