Ingersoll Rand Inc.'s stock surged 5.06% during intraday trading on Friday, reflecting strong investor sentiment following the company's latest earnings report.
The air compressor maker reported fourth-quarter adjusted profit of 96 cents per share, exceeding analysts' estimates of 90 cents per share. This performance was aided by sustained industrial demand for the company's products, including air compressors, vacuums, and blowers.
Revenue for the quarter rose approximately 10% year-over-year to $2.1 billion, further supporting the positive market reaction to the earnings release.
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