Global pumps and compressors manufacturer Ingersoll Rand had “record” results in 2022, the company announced Feb. 21 when reporting its 2022 fourth-quarter and full-year earnings.
Ingersoll Rand posted 4Q revenue of $1.6 billion, a 14% year-over-year increase and up 19% organically. The company had 4Q adjusted EBITDA of $420 million, up 23% year-over-year, with a margin of 25.9%, up 180 basis points year-over-year. While Ingersoll Rand’s reported 4Q orders of $1.5 billion were down 1% compared to 4Q 2021, the company said orders were up 2% on an organic basis. Ingersoll Rand’s impressive 4Q followed a record-setting 3Q 2022, when revenue was $1.5 billion.
For the full year 2022, Ingersoll Rand reported revenues of $5.9 billion, a 15% increase compared to 2021 and up 16% organically. Adjusted EBITDA was $1.4 billion, up 20% from 2021, with a margin of 24.3%, an increase of 120 basis points year-over-year. Reported orders of $6.4 billion were up 10% from 2021 and up 11% on an organic basis.
“We finished the year on a high note, with strong fourth quarter and full year 2022 results amidst ongoing inflation, rising interest rates, and geopolitical uncertainty,” Ingersoll Rand Chairman and CEO Vicente Reynal said in a news release. “These robust results again demonstrate the resilience of our business across economic cycles. Driven by our operational excellence model, IRX, we continue to deliver on the commitments we made at our Investor Day, keeping us on track to meet those 2025 targets.”