Key Highlights

  • Reported revenues rose 6% to $2,065 million, or 4% on an organic basis.
  • Reported orders reached $2,345 million, up 21%, or 18% organic.
  • Reported diluted EPS was $1.73, against $0.61 in the third quarter of 2025.
  • Adjusted EBITDA was $584 million, a 28.3% margin; excluding IEEPA Tariff refunds it was $552 million and 26.7%.
  • The Board authorized a $2 billion increase to the share repurchase program.

Orders surge 21% while Revenue grows 6%

Ingersoll Rand (NYSE:IR), a global provider of mission-critical flow creation and life science and industrial solutions, reported third quarter 2026 results on October 29, 2026. Reported revenues were $2,065 million, up 6% from $1,955 million a year earlier, and organic revenue growth was 4%.

Orders were the stronger number. Reported orders came in at $2,345 million, up 21%, with organic orders up 18%. Chairman and CEO Vicente Reynal described an improved Demand environment, with healthy activity across geographies and end markets.

Reported EPS of $1.73 versus $1.01 excluding tariff refunds

Net income attributable to Ingersoll Rand was $670 million, or $1.73 per diluted share, compared with $244 million, or $0.61, a year earlier. Other operating income, net, was $355.3 million, against an expense of $23.8 million in the prior year quarter, which helped lift Operating Income to $782.5 million from $375.5 million.

Adjusted EPS was $1.07, with adjusted Net Income up 24%. Excluding IEEPA tariff refunds, adjusted net income was $390 million, or $1.01 per share, up 17%. Adjusted EBITDA was $584 million, up 7%, but excluding the refunds it was $552 million, up 1%, with a 26.7% margin.

Industrial Technologies and Services books a roughly $195 million order

The larger segment makes compressors, vacuum, blower and air treatment products, along with power tools and lifting equipment. Reported orders were $1,898 million, up 25%, and revenues were $1,620 million, up 5%, with book to bill of 1.17x.

Growth was driven by long-cycle projects, including an order of about $195 million for an engineered-to-order solution for large-scale, mission-critical infrastructure. Excluding tariff refunds, segment adjusted EBITDA Margin was 27.8%, down 120 basis points, which the company attributed mainly to continued inflationary pressures.

Precision and Science Technologies lifts margin on life sciences

This segment handles precision liquid, gas, air and powder technologies for life sciences, industrial, and aerospace and defense uses. Reported orders were $448 million, up 7%, and revenues were $445 million, up 7%, with Life Sciences orders and revenue each up low double digits.

Segment adjusted EBITDA was $153 million, a 34.3% margin that was up 350 basis points. Excluding the refunds, the margin was 32.6%, up 180 basis points year over year.

Cash flow, Buybacks and ILC Dover recoveries

Operating Cash Flow was $648 million and free cash flow was $623 million, compared with $355 million and $326 million a year earlier. Liquidity was $3.9 billion at September 30, 2026,.

The company repurchased $350 million of shares in the quarter and paid $8 million in dividends. The Board added $2 billion to the repurchase program, plus $313 million remaining. Settlements tied to the ILC Dover transaction total roughly $425.1 million, with $162.5 million collected in the third quarter.

Guidance and what to watch

Full-year revenue growth is guided to 5.5% to 7.0%, including organic growth of 2% to 3.5%. Adjusted EBITDA excluding the third quarter refunds is guided to $2,130 million to $2,190 million, and adjusted EPS on the same basis to $3.58 to $3.70.

The company expects to close the Acquisition of a U.S.-based pump manufacturer on October 30, 2026. Readers will likely watch whether the orders strength converts into revenue and whether segment margins hold once the refunds fade.