Ingersoll Rand 10-Q 2026-03-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________

FORM 10-Q

____________________________

☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026

or

☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-38095

____________________________

Ingersoll Rand Inc.

(Exact Name of Registrant as Specified in Its Charter)

____________________________

Delaware			46-2393770
(State or Other Jurisdiction of Incorporation or Organization)			(I.R.S. Employer Identification No.)

525 Harbour Place Drive, Suite 600

Davidson, North Carolina 28036

(Address of Principal Executive Offices) (Zip Code)

(704) 655-4000

(Registrant’s Telephone Number, Including Area Code)

____________________________

Securities Registered Pursuant to Section 12(b) of the Act:

Title of Each Class			Trading Symbol(s)			Name of Each Exchange on Which Registered
Common Stock, $0.01 Par Value per share			IR			New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities

Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer			ý						Accelerated filer			☐						Emerging growth Company			☐
Non-accelerated filer			☐						Smaller reporting company			☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ý

The registrant had outstanding 391,336,834 shares of Common Stock, par value $0.01 per share, as of April 24, 2026.

INGERSOLL RAND INC. AND SUBSIDIARIES

FORM 10-Q

INDEX

			Page No.
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements			5
Condensed Consolidated Statements of Operations (Unaudited)			5
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)			6
Condensed Consolidated Balance Sheets (Unaudited)			7
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)			8
Condensed Consolidated Statements of Cash Flows (Unaudited)			9
Notes to Condensed Consolidated Financial Statements			10
Note 1. Basis of Presentation and Recent Accounting Pronouncements			10
Note 2. Acquisitions			11
Note 3. Restructuring			13
Note 4. Allowance for Credit Losses			13
Note 5. Inventories			14
Note 6. Goodwill and Other Intangible Assets			14
Note 7. Supply Chain Finance Program			15
Note 8. Accrued Liabilities			15
Note 9. Benefit Plans			16
Note 10. Debt			16
Note 11. Stock-Based Compensation Plans			18
Note 12. Accumulated Other Comprehensive Loss			20
Note 13. Hedging Activities and Derivative Instruments			22
Note 14. Fair Value Measurements			25
Note 15. Revenue from Contracts with Customers			27
Note 16. Income Taxes			29
Note 17. Other Operating Expense, Net			29
Note 18. Contingencies			29
Note 19. Segment Reporting			30
Note 20. Earnings Per Share			32
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			33
Item 3. Quantitative and Qualitative Disclosures About Market Risk			43
Item 4. Controls and Procedures			43
PART II. OTHER INFORMATION
Item 1. Legal Proceedings			44
Item 1A. Risk Factors			44
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			44
Item 3. Defaults Upon Senior Securities			44
Item 4. Mine Safety Disclosures			44
Item 5. Other Information			44
Item 6. Exhibits			45
SIGNATURES			46

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

In addition to historical information, this Form 10-Q may contain “forward-looking statements” within the meaning of the “safe harbor provisions” of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts included in this Form 10-Q, including statements concerning our plans, objectives, goals, beliefs, business strategies, future events, business conditions, results of operations, financial position, business outlook, business trends and other information, may be forward-looking statements. Words such as “estimates,” “expects,” “contemplates,” “will,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts,” “may,” “should” and variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not historical facts, and are based upon our current expectations, beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond our control. Our expectations, beliefs, estimates and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, estimates and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.

There are a number of risks, uncertainties and other important factors, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking statements contained in this Form 10-Q. Such risks, uncertainties and other important factors that could cause actual results to differ include, among others, the risks, uncertainties and factors set forth under “Part I, Item 1A. Risk Factors” and “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report”) and under “Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Form 10-Q, as such risk factors may be updated from time to time in our periodic filings with the SEC, and are accessible on the SEC’s website at www.sec.gov, and also include the following:

• We have exposure to the risks associated with instability in the global economy, financial markets and our end markets, which may negatively impact our revenues, liquidity, suppliers and customers.

• More than half of our sales and operations are in non-U.S. jurisdictions and we are subject to the economic, political, regulatory and other risks of international operations.

• Information systems failure or disruption, due to cyber terrorism or other actions, may adversely impact our business and result in financial loss to the Company or liability to our customers.

• Acquisitions, including integrating such acquisitions, and dispositions create certain risks and may affect our operating results.

• We face competition in the markets we serve, which could materially and adversely affect our operating results.

• The nature of our products creates the possibility of significant product liability, warranty claims, and product recalls, which could harm our business.

• Large or rapid increases in the cost of raw materials and component parts, substantial decreases in their availability or our dependence on particular suppliers of raw materials and component parts could materially and adversely affect our operating results.

• Changes in U.S. tariff policy or reciprocal tariffs by foreign governments, remain uncertain and could impact our financial results.

• Our results of operations are subject to exchange rate and other currency risks. A significant movement in exchange rates could adversely impact our results of operations and cash flows.

• If we are unable to develop new products and technologies, our competitive position may be impaired, which could materially and adversely affect our sales and market share.

• A natural disaster, catastrophe, pandemic, or other event could adversely affect our operations.

• Uncertainties with respect to the development, and use of artificial intelligence in our business and products may result in harm to our business and reputation.

• Our business could suffer if we experience employee work stoppages, union and work council campaigns or other labor difficulties.

• Changes in tax laws and regulations, or adverse determinations by taxing or other governmental authorities could increase our effective tax rate and cash taxes paid or otherwise affect our financial condition or operating results.

• Our success depends on our ability to attract, retain and develop key personnel and other talent throughout the Company.

• The risk of non-compliance with U.S. and foreign laws and regulations applicable to our international operations could have a significant impact on our results of operations, financial condition or strategic objectives.

• Cost overruns, delays, penalties or liquidated damages could negatively impact our results, particularly with respect to fixed-price contracts for custom engineered products.

• Third parties may infringe upon our intellectual property or may claim we have infringed their intellectual property, and we may expend significant resources enforcing or defending our rights or suffer competitive injury.

• The loss of, or disruption in, our distribution network could have a negative impact on our abilities to ship products, meet customer demand and otherwise operate our business.

• Our ongoing and expected restructuring plans and other cost savings initiatives may not be as effective as we anticipate, and we may fail to realize the cost savings and increased efficiencies that we expect to result from these actions. Our operating results could be negatively affected by our inability to effectively implement such restructuring plans and other cost savings initiatives.

• A significant portion of our assets consists of goodwill and other intangible assets, the value of which may be reduced if we determine that those assets are impaired.

• Shareholder, customer and regulatory agency emphasis on environmental, social, and governance responsibility may impose additional costs on us or expose us to new risks.

• Our operating results could be adversely affected by a loss or reduction of business with key customers or consolidation or the vertical integration of our customer base.

• Credit and counterparty risks could harm our business.

• Environmental compliance costs and liabilities could adversely affect our financial condition.

• We face risks associated with our pension and other postretirement benefit obligations.

• Our indebtedness could have important adverse consequences and adversely affect our financial condition.

• We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.

• Despite our level of indebtedness, we and our subsidiaries may still be able to incur substantially more debt, including off-balance sheet financing, contractual obligations and general and commercial liabilities. This could further exacerbate the risks to our financial condition.

• Our fixed rate to floating rate swap contracts subject us to risks related to interest rate risk, counterparty credit worthiness and non-performance on these instruments.

• If the syndicate of financial institutions which are parties to our Revolving Credit Facility (as defined herein) fail to extend credit under our Revolving Credit Facility, our liquidity and results of operations may be adversely affected.

We caution you that the risks, uncertainties and other factors referenced above may not contain all of the risks, uncertainties and other factors that are important to you. In addition, we cannot assure you that we will realize the results, benefits or developments that we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our business in the way expected. There can be no assurance that (i) we have correctly measured or identified all of the factors affecting our business or the extent of these factors’ likely impact, (ii) the available information with respect to these factors on which such analysis is based is complete or accurate, (iii) such analysis is correct or (iv) our strategy, which is based in part on this analysis, will be successful. All forward-looking statements in this report apply only as of the date of this report or as of the date they were made and, except as required by applicable law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

All references to “we,” “us,” “our,” the “Company” or “Ingersoll Rand” in this Quarterly Report on Form 10-Q mean Ingersoll Rand Inc. and its subsidiaries, unless the context otherwise requires.

Website Disclosure

We use our website www.irco.com as a channel of distribution of Company information. Financial and other important information regarding us is routinely accessible through and posted on our website. Accordingly, investors should monitor our website, in addition to following our press releases, SEC filings and public conference calls and webcasts. In addition, you may automatically receive e-mail alerts and other information about Ingersoll Rand Inc. when you enroll your email address by visiting the “Investor Alerts” section of our website at investors.irco.com. The contents of our website are not, however, a part of this Quarterly Report on Form 10-Q.

PART I. FINANCIAL INFORMATION

INGERSOLL RAND INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited; in millions, except per share amounts)

			For the Three Month Period Ended March 31,
			2026						2025
Revenues			$	1,847.2					$	1,716.8
Cost of sales			1,054.8						951.3
Gross Profit			792.4						765.5
Selling and administrative expenses			370.7						350.0
Amortization of intangible assets			107.5						91.3
Other operating expense, net			24.5						21.7
Operating Income			289.7						302.5
Interest expense			63.8						61.2
Other income, net			(4.0)						(11.8)
Income Before Income Taxes			229.9						253.1
Provision for income taxes			36.1						58.5
Loss on equity method investments			—						(6.2)
Net Income			193.8						188.4
Less: Net income attributable to noncontrolling interests			1.7						1.9
Net Income Attributable to Ingersoll Rand Inc.			$	192.1					$	186.5
Basic earnings per share			0.49						0.46
Diluted earnings per share			0.49						0.46

The accompanying notes are an integral part of these condensed consolidated financial statements.

INGERSOLL RAND INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited; in millions)

			For the Three Month Period Ended March 31,
			2026						2025
Comprehensive Income Attributable to Ingersoll Rand Inc.
Net income attributable to Ingersoll Rand Inc.			$	192.1					$	186.5
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net			(41.3)						123.7
Unrecognized gain (loss) on cash flow hedges			0.1						(3.1)
Pension and other postretirement prior service cost and gain (loss), net			(0.2)						(2.6)
Total other comprehensive income (loss), net of tax			(41.4)						118.0
Comprehensive income attributable to Ingersoll Rand Inc.			$	150.7					$	304.5
Comprehensive Income Attributable to Noncontrolling Interests
Net income attributable to noncontrolling interests			$	1.7					$	1.9
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net			(1.2)						0.7
Total other comprehensive income (loss), net of tax			(1.2)						0.7
Comprehensive income attributable to noncontrolling interests			0.5						2.6
Total Comprehensive Income			$	151.2					$	307.1

The accompanying notes are an integral part of these condensed consolidated financial statements.

INGERSOLL RAND INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited; in millions, except share amounts)

			March 31, 2026						December 31, 2025
Assets
Current assets:
Cash and cash equivalents			$	1,274.4					$	1,248.8
Accounts receivable, net of allowance for credit losses of $65.4 and $66.8, respectively			1,455.2						1,518.0
Inventories			1,236.2						1,172.9
Other current assets			324.0						308.3
Total current assets			4,289.8						4,248.0
Property, plant and equipment, net of accumulated depreciation of $711.6 and $689.6, respectively			920.0						930.3
Goodwill			8,471.2						8,484.1
Other intangible assets, net			4,142.8						4,240.3
Deferred tax assets			43.2						38.7
Other assets			351.2						355.8
Total assets			$	18,218.2					$	18,297.2
Liabilities and Stockholders’ Equity

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The following discussion contains management’s discussion and analysis of our financial condition and results of operations and should be read together with the unaudited condensed consolidated financial statements and the related notes thereto included elsewhere in this Quarterly Report on Form 10-Q. This discussion contains forward-looking statements that reflect our plans, estimates and beliefs and involve numerous risks and uncertainties, including, but not limited to, those described in the “Risk Factors” section of our 2025 Annual Report. Actual results may differ materially from those contained in any forward-looking statements. You should carefully read “Special Note Regarding Forward-Looking Statements” in this Quarterly Report on Form 10-Q.

Overview

Our Company

Ingersoll Rand is a global market leader with a broad flow creation and industrial product portfolio across air, gas, powder, and liquid handling applications, providing services and solutions to increase industrial and life science productivity, efficiency, and sustainability. We manufacture one of the broadest and most complete ranges of compressor, pump, vacuum and blower products in our markets, which, when combined with our global geographic footprint and application expertise, allows us to provide differentiated product and service offerings to our customers. Our products are sold under a collection of premier, market-leading brands, including Ingersoll Rand, Gardner Denver, Nash, CompAir, ILC Dover, Thomas, Milton Roy, Seepex, Elmo Rietschle, ARO, Robuschi, Emco Wheaton and Runtech Systems, which we believe are globally recognized in their respective end-markets and known for product quality, reliability, efficiency and superior customer service.

We operate with two reportable segments: Industrial Technologies and Services and Precision and Science Technologies. See Note 19 “Segment Reporting” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q for a description of our reportable segments.

Items Affecting our Business, Industry and End Markets

General Economic Conditions

Our financial results closely follow changes in the industries and end-markets we serve. Demand for most of our products depends on the level of new capital investment and planned and unplanned maintenance expenditures by our customers. The level of capital expenditures depends, in turn, on the general economic conditions as well as access to capital at reasonable cost, which can vary significantly based on geography and customer segmentation.

To date, 2026 has been marked by continued uncertainty in global markets, driven by investor concerns over inflation, elevated interest rates, ongoing political and regulatory uncertainty, including potential shifts in U.S. trade policy and the imposition of new tariffs, as well as geopolitical instability stemming from the conflicts in Ukraine and the Middle East.

Further contributing to economic uncertainty, the current U.S. presidential administration has signaled its intention to implement significant changes to U.S. trade policy, the size of the federal government and the enforcement of various regulations. These policy shifts could introduce additional market instability and reduce investor confidence. In 2025, the U.S. government announced tariffs on goods imported from various countries to the United States. Countries subject to such tariffs have imposed, or may in the future, impose reciprocal or retaliatory tariffs and other trade measures. We are actively monitoring the tariff developments and analyzing the potential impacts on our business, cost structure, supply chain and broader economic environment. We are identifying actions necessary to maintain competitiveness while we adapt to these new economic challenges. While these developments have not had a material impact on our financial condition or results of operations to date, due to their evolving nature, and the expected persistence of macroeconomic conditions and volatility in the near term, we cannot predict with certainty the ultimate impacts they may have on our business and results in the future, but those impacts could be material.

Foreign Currency Fluctuations

A significant portion of our revenues, approximately 57% for the three month period ended March 31, 2026, was denominated in currencies other than the U.S. dollar. Because much of our manufacturing facilities and labor force costs are outside of the United States, a significant portion of our costs are also denominated in currencies other than the U.S. dollar. Changes in foreign exchange rates can therefore impact our results of operations and are quantified when significant to our discussion.

Factors Affecting the Comparability of our Results of Operations

Key factors affecting the comparability of our results of operations are summarized below.

Acquisitions

Part of our strategy for growth is to acquire complementary businesses that provide access to new technologies or geographies or expand our offerings. While acquisitions, as discussed further in Note 2, are not individually significant or significant in the aggregate, they may be relevant when comparing our results from period to period.

See Note 2 “Acquisitions” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q for further discussion of these acquisitions.

Restructuring and Other Business Transformation Initiatives

We continue to execute business transformation initiatives. A key element of those initiatives are restructuring programs within our Industrial Technologies and Services and Precision and Science Technologies segments, as well as at the Corporate level. Restructuring charges, program related facility reorganization, relocation and other costs, and related capital expenditures were impacted most significantly.

How We Assess the Performance of Our Business

We manage operations through the two business segments described above. In addition to our consolidated GAAP financial measures, we review various non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income and Free Cash Flow.

We believe Adjusted EBITDA and Adjusted Net Income are helpful supplemental measures to assist us and investors in evaluating our operating results as they exclude certain items whose fluctuation from period to period do not necessarily correspond to changes in the operations of our business. Adjusted EBITDA represents net income (loss) before interest, taxes, depreciation, amortization and certain non-cash, non-recurring and other adjustment items. We believe that the adjustments applied in presenting Adjusted EBITDA are appropriate to provide additional information to investors about certain material non-cash items and about non-recurring items that we do not expect to continue at the same level in the future. Adjusted Net Income is defined as net income (loss) including interest, depreciation and amortization of non-acquisition related intangible assets and excluding other items used to calculate Adjusted EBITDA and further adjusted for the tax effect of these exclusions.

We use Free Cash Flow to review the liquidity of our operations. We measure Free Cash Flow as cash flows from operating activities less capital expenditures. We believe Free Cash Flow is a useful supplemental financial measure for us and investors in assessing our ability to pursue business opportunities and investments and to service our debt. Free Cash Flow is not a measure of our liquidity under GAAP and should not be considered as an alternative to cash flows from operating activities.

Management and our board of directors regularly use these measures as tools in evaluating our operating and financial performance and in establishing discretionary annual compensation. Such measures are provided in addition to, and should not be considered to be a substitute for, or superior to, the comparable measures under GAAP. In addition, we believe that Adjusted EBITDA, Adjusted Net Income and Free Cash Flow are frequently used by investors and other interested parties in the evaluation of issuers, many of which also present Adjusted EBITDA, Adjusted Net Income and Free Cash Flow when reporting their results in an effort to facilitate an understanding of their operating and financial results and liquidity.

Adjusted EBITDA, Adjusted Net Income and Free Cash Flow should not be considered as alternatives to net income (loss) or any other performance measure derived in accordance with GAAP, or as alternatives to cash flow from operating activities as a measure of our liquidity. Adjusted EBITDA, Adjusted Net Income and Free Cash Flow have limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing our results as reported under GAAP.

See “Non-GAAP Financial Measures” below for reconciliation information.

Results of Operations

Consolidated results should be read in conjunction with the segment results section herein and Note 19 “Segment Reporting” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q, which provides more detailed discussions concerning certain components of our Condensed Consolidated Statements of Operations. All intercompany accounts and transactions have been eliminated within the consolidated results. The following table presents selected Condensed Consolidated Results of Operations of our business for the three month periods ended March 31, 2026 and 2025.

									For the Three Month Period Ended March 31,
(In millions, except percentages)															2026						2025
Condensed Consolidated Statement of Operations:
Revenues															$	1,847.2					$	1,716.8
Cost of sales															1,054.8						951.3
Gross profit															792.4						765.5
Selling and administrative expenses															370.7						350.0
Amortization of intangible assets															107.5						91.3
Other operating expense, net															24.5						21.7
Operating income															289.7						302.5
Interest expense															63.8						61.2
Other income, net															(4.0)						(11.8)
Income before income taxes															229.9						253.1
Provision for income taxes															36.1						58.5
Loss on equity method investments															—						(6.2)
Net income															193.8						188.4
Less: Net income attributable to noncontrolling interests															1.7						1.9
Net income attributable to Ingersoll Rand Inc.															$	192.1					$	186.5
Percentage of Revenues:
Gross profit															42.9		%				44.6		%
Selling and administrative expenses															20.1		%				20.4		%
Operating income															15.7		%				17.6		%
Net income															10.5		%				11.0		%
Adjusted EBITDA															25.4		%				26.8		%
Other Financial Data:
Adjusted EBITDA (1)															$	469.1					$	459.7
Adjusted Net Income (1)															304.6						293.2
Cash flows - operating activities															199.7						256.4
Cash flows - investing activities															(84.4)						(197.1)
Cash flows - financing activities															(83.8)						(10.0)
Free Cash Flow (1)															163.4						222.7

(1)See the “Non-GAAP Financial Measures” section for a reconciliation to comparable GAAP measure.

Revenues

Revenues for the three month period ended March 31, 2026 were $1,847.2 million, an increase of $130.4 million, or 7.6%, compared to $1,716.8 million for the same three month period in 2025. The increase in revenues was primarily due to favorable impact of foreign currencies of $72.4 million and acquisitions of $63.9 million, partially offset by lower organic revenues of $5.9 million. The percentage of consolidated revenues derived from aftermarket parts and services was 37.4% in the three month period ended March 31, 2026 compared to 38.1% in the same three month period in 2025.

Gross Profit

Gross profit for the three month period ended March 31, 2026 was $792.4 million, an increase of $26.9 million, or 3.5%, compared to $765.5 million for the same three month period in 2025, and as a percentage of revenues was 42.9% for the three month period ended March 31, 2026 and 44.6% for the same three month period in 2025. The increase in gross profit is primarily due to the favorable impact of foreign currencies and acquisitions. The decrease in gross profit as a percentage of revenues is

primarily due to unfavorable cost leverage on lower organic revenues, unfavorable product mix, and tariff related pricing targeted to offset tariff cost increases one for one, partially offset by cost measures.

Selling and Administrative Expenses

Selling and administrative expenses were $370.7 million for the three month period ended March 31, 2026, an increase of $20.7 million, or 5.9%, compared to $350.0 million for the same three month period in 2025. The increase in selling and administrative expenses was primarily due to acquisitions. Selling and administrative expenses as a percentage of revenues decreased to 20.1% for the three month period ended March 31, 2026 from 20.4% in the same three month period in 2025. The decrease in selling and administrative expenses as a percentage of revenues is primarily due to cost measures, partially offset by lower organic revenues.

Amortization of Intangible Assets

Amortization of intangible assets was $107.5 million for the three month period ended March 31, 2026, an increase of $16.2 million, compared to $91.3 million in the same three month period in 2025. The increase was primarily due to businesses acquired in 2025 and amortization related to certain tradenames that were determined to no longer have indefinite lives during the fourth quarter of 2025. Refer to Note 2 “Acquisitions” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q for further information regarding businesses acquired.

Other Operating Expense, Net

Other operating expense, net was $24.5 million for the three month period ended March 31, 2026, an increase of $2.8 million, compared to $21.7 million in the same three month period in 2025. The increase in expense was primarily due to higher acquisition and other transaction related expenses of $3.8 million and higher restructuring charges of $3.4 million, partially offset by lower foreign currency transaction losses, net of $4.6 million.

Interest Expense

Interest expense was $63.8 million for the three month period ended March 31, 2026, an increase of $2.6 million, compared to $61.2 million in the same three month period in 2025. The increase was primarily due to gains from terminated cash flow hedges that were reclassified into earnings during the 2025 period. The weighted average interest rate, including the impact of the active interest rate derivative contracts, was approximately 4.9% for the three month period ended March 31, 2026 and 5.0% in the same three month period in 2025.

Other Income, Net

Other income, net was $4.0 million and $11.8 million in the three month periods ended March 31, 2026 and 2025, respectively. The decrease was primarily due to a decrease in interest income from holdings of cash and cash equivalents.

Provision for Income Taxes

The provision for income taxes was $36.1 million, resulting in a 15.7% effective income tax provision rate for the three month period ended March 31, 2026, compared to a provision for income taxes of $58.5 million, resulting in a 23.1% effective income tax provision rate in the same three month period in 2025. The decrease in the tax provision and the effective income tax provision rate for the three month period ended March 31, 2026 when compared to the same three month period of 2025 is primarily due to a benefit of a windfall tax deduction.

Net Income

Net income was $193.8 million for the three month period ended March 31, 2026 compared to net income of $188.4 million in the same three month period in 2025. The increase in net income was primarily due to higher gross profit, partially offset by higher selling and administrative expenses and higher amortization expense discussed above.

Adjusted EBITDA

Adjusted EBITDA increased $9.4 million to $469.1 million for the three month period ended March 31, 2026 compared to $459.7 million in the same three month period in 2025. Adjusted EBITDA as a percentage of revenues decreased 140 basis points to 25.4% for the three month period ended March 31, 2026 from 26.8% for the same three month period in 2025. The increase in Adjusted EBITDA was primarily due to the favorable impact of foreign currencies of $17.2 million, acquisitions of $14.1 million and lower selling and administrative costs of $6.2 million, partially offset by lower organic gross profit of $27.8 million. The decrease in Adjusted EBITDA as a percentage of revenues is primarily attributable to input cost inflation and product mix.

Adjusted Net Income

Adjusted Net Income increased $11.4 million to $304.6 million for the three month period ended March 31, 2026 compared to $293.2 million in the same three month period in 2025. The increase was primarily due to higher Adjusted EBITDA and lower income tax provision, as adjusted, partially offset by lower interest income on cash and cash equivalents and higher interest expense.

Non-GAAP Financial Measures

Set forth below are the reconciliations of Net Income to Adjusted EBITDA and Adjusted Net Income and Cash Flows from Operating Activities to Free Cash Flow.

									For the Three Month Period Ended March 31,
(In millions)															2026						2025
Net Income															$	193.8					$	188.4
Plus:
Interest expense															63.8						61.2
Provision for income taxes															36.1						58.5
Depreciation expense (a)															28.3						27.6
Amortization expense (b)															107.5						91.3
Restructuring and related business transformation costs (c)															8.7						5.4
Acquisition and other transaction related expenses and non-cash charges (d)															13.6						9.8
Stock-based compensation															15.9						14.2
Foreign currency transaction losses, net															2.2						6.8
Loss on equity method investments															—						6.2
Adjustments to LIFO inventories															5.4						3.0
Cybersecurity incident costs (e)															—						(0.2)
Interest income on cash and cash equivalents															(5.1)						(10.3)
Other adjustments (f)															(1.1)						(2.2)
Adjusted EBITDA															$	469.1					$	459.7
Minus:
Interest expense															$	63.8					$	61.2
Income tax provision, as adjusted (g)															75.2						85.7
Depreciation expense															28.3						27.6
Amortization of non-acquisition related intangible assets															2.3						2.3
Interest income on cash and cash equivalents															(5.1)						(10.3)
Adjusted Net Income															$	304.6					$	293.2
Free Cash Flow
Cash flows from operating activities															$	199.7					$	256.4
Minus:
Capital expenditures															36.3						33.7
Free Cash Flow															$	163.4					$	222.7

(a)Depreciation expense excludes $1.1 million and $1.1 million of depreciation of rental equipment for the three month periods ended March 31, 2026 and 2025, respectively.

(b)Represents $105.2 million and $89.0 million of amortization of intangible assets arising from acquisitions (customer relationships, technology, tradenames and backlog) and $2.3 million and $2.3 million of amortization of non-acquisition related intangible assets, in each case for the three month periods ended March 31, 2026 and 2025, respectively.

(c)Restructuring and related business transformation costs consisted of the following.

									For the Three Month Period Ended March 31,
(In millions)															2026						2025
Restructuring charges															$	8.7					$	5.3
Facility reorganization, relocation and other costs															—						0.1
Total restructuring and related business transformation costs															$	8.7					$	5.4

(d)Represents costs associated with successful and/or abandoned acquisitions and divestitures, including third-party expenses, post-closure integration costs, and non-cash charges and credits arising from fair value purchase accounting adjustments.

(e)Represents expected non-recoverable costs associated with a cybersecurity event, net of insurance recoveries.

(f)Includes (i) pension and other postemployment plan costs other than service costs and (ii) other miscellaneous adjustments.

(g)Represents our income tax provision adjusted for the tax effect of pre-tax items excluded from Adjusted Net Income and the removal of the applicable discrete tax items. The tax effect of pre-tax items excluded from Adjusted Income is computed using the statutory tax rate related to the jurisdiction that was impacted by the adjustment after taking into account the impact of permanent differences and valuation allowances. Discrete tax items include changes in tax laws or rates, changes in uncertain tax positions relating to prior years and changes in valuation allowances. The adjusted amounts are then used to calculate an adjusted provision for the quarter.

The income tax provision, as adjusted for each of the periods presented below consisted of the following.

									For the Three Month Period Ended March 31,
(In millions)															2026						2025
Provision for income taxes															$	36.1					$	58.5
Tax impact of pre-tax income adjustments															30.9						26.7
Discrete tax items															8.2						0.5
Income tax provision, as adjusted															$	75.2					$	85.7

Segment Results

We classify our business into two segments: Industrial Technologies and Services and Precision and Science Technologies. Our Corporate operations are not discussed separately as any results that had a significant impact on operating results are included in the “Results of Operations” discussion above.

We evaluate the performance of our segments based on Segment Revenues and Segment Adjusted EBITDA. Segment Adjusted EBITDA is indicative of operational performance and ongoing profitability. Our management closely monitors Segment Adjusted EBITDA to evaluate past performance and identify actions required to improve profitability.

The segment measurements provided to and evaluated by the chief operating decision maker are described in Note 19 “Segment Reporting” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q.

Segment Results for the Three Month Periods Ended March 31, 2026 and 2025

The following tables display Segment Orders, Segment Revenues, Segment Adjusted EBITDA and Segment Adjusted EBITDA Margin (Segment Adjusted EBITDA as a percentage of Segment Revenues) for each of our Segments.

Industrial Technologies and Services Segment Results

			For the Three Month Period Ended March 31,												Percent Change
(In millions, except percentages)			2026						2025						2026 vs. 2025
Segment Orders			$	1,557.9					$	1,487.0					4.8		%
Segment Revenues			$	1,444.5					$	1,352.1					6.8		%
Segment Adjusted EBITDA			$	385.5					$	389.1					(0.9)		%
Segment Margin			26.7		%				28.8		%				(210)		bps

Segment Orders for the three month period ended March 31, 2026 were $1,557.9 million, an increase of $70.9 million, or 4.8%, compared to $1,487.0 million in the same three month period in 2025. The increase in Segment Orders was due to acquisitions of

$48.4 million or 3.3% and the favorable impact of foreign currencies of $60.6 million or 4.1%, partially offset by lower organic orders of $38.1 million or 2.6%.

Segment Revenues for the three month period ended March 31, 2026 were $1,444.5 million, an increase of $92.4 million, or 6.8%, compared to $1,352.1 million in the same three month period in 2025. The increase in Segment Revenues was due to acquisitions of $56.4 million or 4.2%, and the favorable impact of foreign currencies of $57.8 million or 4.3%, partially offset by lower organic revenues of $21.8 million or 1.6%. The percentage of Segment Revenues derived from aftermarket parts and service was 41.7% in the three month period ended March 31, 2026 compared to 42.5% in the same three month period in 2025.

Segment Adjusted EBITDA for the three month period ended March 31, 2026 was $385.5 million, a decrease of $3.6 million, or 0.9%, from $389.1 million in the same three month period in 2025. Segment Adjusted EBITDA Margin decreased 210 basis points to 26.7% from 28.8% in 2025. The decrease in Segment Adjusted EBITDA was primarily due to lower organic gross profit of $37.4 million or 9.6%, partially offset by favorable impact of foreign currencies of $13.6 million or 3.5%, acquisitions of $12.1 million or 3.1%, and lower selling and administrative costs of $8.2 million or 2.1%.

Precision and Science Technologies Segment Results

			For the Three Month Period Ended March 31,												Percent Change
(In millions, except percentages)			2026						2025						2026 vs. 2025
Segment Orders			$	420.1					$	395.3					6.3		%
Segment Revenues			$	402.7					$	364.7					10.4		%
Segment Adjusted EBITDA			$	121.9					$	106.2					14.8		%
Segment Margin			30.3		%				29.1		%				120		bps

Segment Orders for the three month period ended March 31, 2026 were $420.1 million, an increase of $24.8 million, or 6.3%, compared to $395.3 million in the same three month period in 2025. The increase in Segment Orders was due to the favorable impact of foreign currencies of $15.3 million or 3.9%, acquisitions of $7.1 million or 1.8%, and higher organic orders of $2.4 million or 0.6%.

Segment Revenues for the three month period ended March 31, 2026 were $402.7 million, an increase of $38.0 million, or 10.4%, compared to $364.7 million in the same three month period in 2025. The increase in Segment Revenues was primarily due to higher organic revenues of $15.9 million or 4.4%, favorable impact of foreign currencies of $14.6 million or 4.0%, and acquisitions of $7.5 million or 2.1%. The percentage of Segment Revenues derived from aftermarket parts and service was 22.2% in the three month period ended March 31, 2026 compared to 21.5% in the same three month period in 2025.

Segment Adjusted EBITDA for the three month period ended March 31, 2026 was $121.9 million, an increase of $15.7 million, or 14.8%, from $106.2 million in the same three month period in 2025. Segment Adjusted EBITDA Margin increased 120 basis points to 30.3% from 29.1% in 2025. The increase in Segment Adjusted EBITDA was primarily due to higher organic gross profit of $9.2 million or 8.7%, favorable impact of foreign currencies of $4.9 million or 4.6%, and acquisitions of $2.0 million or 1.9%, partially offset by higher selling and administrative costs of $0.4 million or 0.4%.

Liquidity and Capital Resources

Our investment resources include cash on hand, cash generated from operations and borrowings under our Revolving Credit Facility and Commercial Paper Program. We also have the ability to seek additional secured and unsecured borrowings, subject to credit agreement restrictions.

See the description of these line-of-credit resources in Note 11 “Debt” to the consolidated financial statements in our 2025 Annual Report and Note 10 “Debt” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q.

As of March 31, 2026, we had $2,600.0 million of unused availability under both the Revolving Credit Facility and Commercial Paper Program.

As of March 31, 2026, we were in compliance with all of our debt covenants and no event of default had occurred or was ongoing.

Liquidity

A substantial portion of our liquidity needs arise from debt service requirements, and from the ongoing cost of operations, working capital and capital expenditures.

(In millions)			March 31, 2026						December 31, 2025
Cash and cash equivalents			$	1,274.4					$	1,248.8
Short-term borrowings and current maturities of long-term debt			$	1.4					$	1.4
Long-term debt			4,777.4						4,783.3
Total debt			$	4,778.8					$	4,784.7

We can increase the borrowing availability under the Revolving Credit Facility by up to $1,000.0 million in the form of additional commitments on the terms set forth in the Revolving Credit Facility. Our liquidity requirements are significant primarily due to debt service requirements. See Note 11 “Debt” to the consolidated financial statements in our 2025 Annual Report and Note 10 “Debt” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q for further details.

Our principal sources of liquidity have been existing cash and cash equivalents, cash generated from operations and borrowings under the Senior Notes. Our principal uses of cash will be to provide working capital, meet debt service requirements, fund capital expenditures, dividend payments, and finance strategic plans, including possible acquisitions. We may also seek to finance capital expenditures under capital leases or other debt arrangements that provide liquidity or favorable borrowing terms. We continue to consider acquisition opportunities, but the size and timing of any future acquisitions and the related potential capital requirements cannot be predicted. In the event that suitable businesses are available for acquisition upon acceptable terms, we may obtain all or a portion of the necessary financing through the incurrence of additional long-term borrowings. As market conditions warrant, we may from time to time, seek to repay loans that we have borrowed, including the borrowings under the Senior Notes. Based on our current level of operations and available cash, we believe our cash flow from operations, together with availability under the Revolving Credit Facility and Commercial Paper Program, will provide sufficient liquidity to fund our current obligations, projected working capital requirements, debt service requirements and capital spending requirements for the foreseeable future. Our business may not generate sufficient cash flows from operations or future borrowings may not be available to us under our Revolving Credit Facility or Commercial Paper Program in an amount sufficient to enable us to pay our indebtedness, or to fund our other liquidity needs. Our ability to do so depends on, among other factors, prevailing economic conditions, many of which are beyond our control. In addition, upon the occurrence of certain events, such as a change in control, we could be required to repay or refinance our indebtedness. We may not be able to refinance any of our indebtedness, including the Senior Notes, on commercially reasonable terms or at all. Any future acquisitions, joint ventures, or other similar transactions may require additional capital and there can be no assurance that any such capital will be available to us on acceptable terms or at all.

We may from time to time repurchase shares of our common stock in the open market at prevailing market prices (including through Rule 10b5-1 plans), in privately negotiated transactions, a combination thereof or through other transactions. The actual timing, number, manner and value of any shares repurchased will depend on several factors, including the market price of our stock, general market and economic conditions, our liquidity requirements, applicable legal requirements and other business considerations.

A substantial portion of our cash is in jurisdictions outside of the United States. We do not assert ASC 740-30 (formerly APB 23) indefinite reinvestment of our historical non-U.S. earnings or future non-U.S. earnings. The Company records a deferred foreign tax liability to cover all estimated withholding, state income tax and foreign income tax associated with repatriating all non-U.S. earnings back to the United States. Our deferred income tax liability as of March 31, 2026 was $69.2 million which consists mainly of withholding taxes.

Working Capital

(In millions)			March 31, 2026						December 31, 2025
Net Working Capital:
Current assets			$	4,289.8					$	4,248.0
Less: Current liabilities			1,926.2						2,066.3
Net working capital			$	2,363.6					$	2,181.7
Operating Working Capital:
Accounts receivable			$	1,455.2					$	1,518.0
Plus: Inventories (excluding LIFO reserve)			1,338.6						1,269.9
Plus: Contract assets			161.2						163.9
Less: Accounts payable			847.4						996.1
Less: Contract liabilities (current)			344.7						347.2
Operating working capital			$	1,762.9					$	1,608.5

Net working capital increased $181.9 million to $2,363.6 million as of March 31, 2026 from $2,181.7 million as of December 31, 2025. Operating working capital increased $154.4 million to $1,762.9 million as of March 31, 2026 from $1,608.5 million as of December 31, 2025. The increase in operating working capital is due to lower accounts payable, higher inventories, and lower contract liabilities, partially offset by lower accounts receivable and lower contract assets.

The decrease in accounts receivable was primarily due to the timing of revenues in the quarter and seasonal changes in collection timing. The increase in inventories was primarily due to additions to support channel access, foreign currency translation, and acquisitions. The decrease in contract assets was primarily due to the timing of revenue recognition and billing on our overtime contracts. The decrease in accounts payable was primarily due to the timing of vendor cash disbursements. The decrease in contract liabilities was primarily due to the timing of customer milestone payments for in-process engineered to order contracts.

Cash Flows

The following table reflects the major categories of cash flows for the three month periods ended March 31, 2026 and 2025, respectively.

			For the Three Month Period Ended March 31,
(In millions)			2026						2025
Cash flows provided by operating activities			$	199.7					$	256.4
Cash flows used in investing activities			(84.4)						(197.1)
Cash flows used in financing activities			(83.8)						(10.0)
Free cash flow(1)			163.4						222.7

(1)See the “Non-GAAP Financial Measures” section included in this Quarterly Report for a reconciliation to the nearest GAAP measure.

Operating Activities

Cash provided by operating activities decreased $56.7 million to $199.7 million for the three month period ended March 31, 2026 from $256.4 million in the same three month period in 2025. This decrease is primarily attributable to an increase in cash used in operating working capital in 2026, compared to 2025 and higher tax payments in 2026, compared to 2025, partially offset by an increase in net income excluding non-cash adjustments in 2026, compared to 2025.

Investing Activities

Cash used in investing activities included capital expenditures of $36.3 million and $33.7 million for the three month periods ended March 31, 2026 and 2025, respectively. Net cash paid in acquisitions was $52.0 million and $163.4 million in the three month periods ended March 31, 2026 and 2025, respectively.

Financing Activities

Cash used in financing activities of $83.8 million for the three month period ended March 31, 2026 primarily reflected purchases of treasury stock of $89.5 million, cash dividends on common stock of $7.8 million, payments of deferred and contingent acquisition consideration of $1.4 million, and other financing outflows of $1.0 million, partially offset by proceeds from stock option exercises of $15.9 million.

Cash used in financing activities of $10.0 million for the three month period ended March 31, 2025 primarily reflected purchases of treasury stock of $10.0 million, cash dividends on common stock of $8.1 million, and payments of deferred and contingent acquisition consideration of $1.4 million, partially offset by proceeds from stock option exercises of $5.2 million and other financing outflows of $4.3 million.

Free Cash Flow

Free cash flow decreased $59.3 million to $163.4 million in the three month period ended March 31, 2026 from $222.7 million in the same three month period in 2025 due to lower cash provided by operating activities as discussed above.

Critical Accounting Estimates

Management has evaluated the accounting estimates used in the preparation of the Company’s condensed consolidated financial statements and related notes and believe those estimates to be reasonable and appropriate. Certain of these accounting estimates require the application of significant judgment by management in selecting appropriate assumptions for calculating financial estimates. By their nature, these judgments are subject to an inherent degree of uncertainty. These judgments are based on historical experience, trends in the industry, information provided by customers and information available from other outside sources, as appropriate. The most significant areas involving management judgments and estimates may be found in the section “Critical Accounting Estimates” of “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in Note 1 “Summary of Significant Accounting Policies” of “Item 8. Financial Statements and Supplementary Data” included in our 2025 Annual Report.

Environmental Matters

Information with respect to the effect of compliance with environmental protection requirements and resolution of environmental claims on us and our manufacturing operations is contained in Note 18 “Contingencies” to the condensed consolidated financial statements included elsewhere in this Form 10-Q. We believe that as of March 31, 2026, there have been no material changes to the environmental matters disclosed in our 2025 Annual Report.

Recent Accounting Pronouncements

The information set forth in Note 1 “Basis of Presentation and Recent Accounting Pronouncements” to our condensed consolidated financial statements under Part 1, Item 1 “Financial Statements” under the heading “Recently Issued Accounting Pronouncements” is incorporated herein by reference.

We manage our debt centrally, considering tax consequences and our overall financing strategies. Our exposure to interest rate risk results primarily from our fixed rate to floating rate swap contracts which are used to adjust the relative fixed rate versus floating rate proportions of our debt portfolio.

In addition, we are exposed to foreign currency risks that arise from our global business operations. Changes in foreign currency exchange rates affect the translation of local currency balances of foreign subsidiaries, transaction gains and losses associated with intercompany loans with foreign subsidiaries and transactions denominated in currencies other than a subsidiary’s functional currency. While future changes in foreign currency exchange rates are difficult to predict, our revenues and earnings may be adversely affected if the U.S. dollar strengthens.

We seek to minimize our exposure to foreign currency risks through a combination of normal operating activities, including by conducting our international business operations primarily in their functional currencies to match expenses with revenues, and the use of cross currency interest rate swap contracts and foreign currency forward exchange contracts. In addition, to mitigate the risk arising from entering into transactions in currencies other than our functional currencies, we typically settle intercompany trading balances at least quarterly.

As of March 31, 2026, there have been no material changes to our market risk assessment previously disclosed in the 2025 Annual Report.

Disclosure Controls and Procedures

The Company maintains a set of disclosure controls and procedures as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that are designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission (“SEC”) rules and forms, and that such information is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. The design of any disclosure controls and procedures is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives. In accordance with Rule 13a-15(b) of the Exchange Act, as of the end of the period covered by this Quarterly Report on Form 10-Q, an evaluation was carried out under the supervision and with the participation of the Company’s management, including its Chief Executive Officer and Chief Financial Officer, of the effectiveness of its disclosure controls and procedures. Based on their evaluation, the Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures, as of the end of the period covered by this Quarterly Report on Form 10-Q, were effective to provide reasonable assurance that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms and is accumulated and communicated to the Company’s management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Internal Control over Financial Reporting

There have not been any changes in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) during the fiscal quarter to which this report relates that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

The information set forth in Note 18 “Contingencies” to our Condensed Consolidated Financial Statements under Part I, Item 1 “Financial Statements,” is incorporated herein by reference.

There have been no material changes to our risk factors included in our 2025 Annual Report.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table contains detail related to the repurchase of our common stock based on the date of trade during the three month period ended March 31, 2026.

2026 First Quarter Months			Total Number of Shares Purchased**(1)**						Average Price Paid Per Share**(2)**						Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs**(3)**						Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs**(3)**
January 1, 2026 - January 31, 2026			17						$	80.87					—						$	985,587,408
February 1, 2026 - February 28, 2026			500,446						$	95.86					433,889						$	944,087,694
March 1, 2026 - March 31, 2026			462,664						$	89.72					462,664						$	902,587,463
Total			963,127												896,553

(1)Includes shares of common stock surrendered to us to satisfy tax withholding obligations in connection with the vesting of certain restricted stock units, comprised of 17 shares in the period from January 1, 2026 to January 31, 2026 and 66,557 shares in the period from February 1, 2026 to February 28, 2026.

(2)The average price paid per share includes brokerage commissions.

(3)On August 24, 2021, our Board of Directors approved a share repurchase program, which authorized the repurchase of up to $750.0 million of the Company’s outstanding common stock, and on April 25, 2024, the Company announced that our Board of Directors approved an incremental $1.0 billion increase to the share repurchase authorization. On May 1, 2025, the Company announced that its Board of Directors authorized a $1.0 billion increase to the Company’s share repurchase program. The authorizations do not have any expiration date. Under the repurchase program, Ingersoll Rand may from time to time repurchase shares of the Company’s common stock in the open market at prevailing market prices (including through Rule 10b5-1 plans), in privately negotiated transactions, a combination thereof, or through other transactions. The actual timing, number, manner, and value of any shares repurchased will depend on several factors, including the market price of the Company’s stock, general market and economic conditions, the Company’s liquidity requirements, applicable legal requirements, and other business considerations.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

Rule 10b5-1 Trading Arrangements

During the quarter ended March 31, 2026, none of our directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted, terminated, or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K).

The following is a list of all exhibits filed or furnished as part of this report.

The agreements and other documents filed as exhibits to this report are not intended to provide factual information or other disclosures other than with respect to the terms of the agreements or other documents themselves, and you should not rely on them for that purpose. In particular, any representations and warranties made by us in these agreements or other documents were made solely within the specific context of the relevant agreement or document and may not describe the actual statement of affairs as of the date they were made or at any other time.

Exhibit No.						Description
3.1						Restated Certificate of Incorporation of Ingersoll Rand Inc. (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K filed on June 21, 2021).
3.2						Third Amended and Restated Bylaws of Ingersoll Rand Inc. (incorporated by reference to Exhibit 3.2 to the Registrant’s Quarterly Report on Form 10-Q filed on November 3, 2023).
31.1						Certification of Periodic Report by Chief Executive Officer under Section 302 of the Sarbanes-Oxley Act of 2002.
31.2						Certification of Periodic Report by Chief Financial Officer under Section 302 of the Sarbanes-Oxley Act of 2002.
32.1						Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2						Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS						Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH						Inline XBRL Taxonomy Extension Schema Document.
101.CAL						Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF						Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB						Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE						Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104						Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit 101).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: April 29, 2026			INGERSOLL RAND INC.
			By:			/s/ Michael J. Scheske
			Name: Michael J. Scheske
			Title: Vice President and Chief Accounting Officer (Principal Accounting Officer)