Entries Tagged 'hvac' ↓

30th Sep 2011, 11:25 am by Olivia D'Orazio

Ingersoll-Rand (NYSE:IR) saw its shares drop over 15% on Friday as it announced decreases to its earnings and revenues forecast for the third quarter and full year.

The diversified industrial company said it expects earnings from continuing operations for the quarter to be in the range of $0.77 to $0.80 per share, including four-cents from its Hussmann brand, and excluding the impact of impairment charges.

Analysts are expecting 92-cents per share in earnings, while the company itself had previously forecast earnings between $0.85 and $0.95 per share.

As a result, the company’s stock in New York sank 16.05% as of 9:55 am EDT, to trade at $26.83.

Revenue guidance for the period was also lowered to a range of $3.90 to $3.96 billion. Ingersoll-Rand had originally expected between $4.05 and $4.15 billion in sales.

The company said its consumer-related businesses, like residential heating, ventilation and air conditioning (HVAC), and golf and residential security, were significantly affected by slow end-markets and lower volume. however, transport, and industrial and commercial HVAC revenues have remained strong, it said.

For the full year, Ingersoll-Rand said it expects earnings from continuing operations to be between $2.70 and $2.80 per share, down from its initial range of $2.90 to $3.10 per share, and below analysts’ $2.96 per share outlook.

Revenues are expected between $14.85 and $15.0 billion, below its previously reported $15.3 to $15.5 billion estimate range.

Ingersoll-Rand said it expects lower demand in key North American residential and commercial security markets. It also said the strengthening U.S. dollar against the Euro is anticipated to have a negative impact on revenues, mainly in the fourth quarter.

Based in Dublin, Ireland, Ingersoll-Rand operates several brands, including Club Car, which builds golf carts and utility vehicles, Trane, a manufacturer of HVAC equipment, Hussmann, a builder of refrigeration units, ThermoKing, which transports refrigeration units, lock manufacturer Schalge, and its namesake brand, which manufacturers air compressors, tools, and material handling devices.

The company is scheduled to report its third quarter results on October 20, and will host a conference call at 10:00 am ET that same day.

Watsco Inc. (WSO) filed Quarterly Report for the period ended 2011-06-30. Watsco Inc. has a market cap of $1.74 billion; its shares were traded at around $52.93 with a P/E ratio of 20.5 and P/S ratio of 0.6. The dividend yield of Watsco Inc. stocks is 4.3%. Watsco Inc. had an annual average earning growth of 8.3% over the past 10 years.

Revenues for the quarter ended June 30, 2011 increased $18.7 million, or 2%, compared to the same period in 2010, including $44.9 million attributable to the new Carrier Enterprise Northeast locations and $1.1 million from other locations acquired and opened during the immediately preceding 12 months, offset by $9.5 million from closed locations. On a same-store basis, revenues decreased $17.8 million, or 2%, as compared to the same period in 2010. Revenues reflect a 5% decrease in sales of HVAC equipment, a 1% decrease in sales of other HVAC products and an 8% increase in sales of refrigeration products. Sales of HVAC equipment were impacted by lower demand in the replacement market and a shift in sales mix toward non-equipment products.

Revenues for the six months ended June 30, 2011 increased $43.3 million, or 3%, compared to the same period in 2010, including $44.9 million attributable to the new Carrier Enterprise Northeast locations and $4.6 million from other locations acquired and opened during the immediately preceding 12 months, offset by $13.3 million from closed locations. On a same-store basis, revenues increased $7.1 million, or 1%, as compared to the same period in 2010. Revenues reflect a 2% decrease in sales of HVAC equipment, a 1% increase in sales of other HVAC products and a 13% increase in sales of refrigeration products. Sales of HVAC equipment were impacted by lower demand in the replacement market and a shift in sales mix toward non-equipment products.

in March 2011, Carrier Enterprise returned an $80.0 million capital contribution made in 2009 to Watsco and Carrier using cash on hand. our share of the return of capital totaled $48.0 million and Carrier’s share totaled $32.0 million. Cash distributions attributable to the noncontrolling interest in Carrier Enterprise included $9.7 million that was payable at December 31, 2010. This payment was made in January 2011.

Working capital increased to $637.3 million at June 30, 2011 from $572.0 million at December 31, 2010, reflecting the 28 new locations added by Carrier Enterprise Northeast in April 2011, which added $43.5 million of working capital. Excluding these new locations, working capital was $593.8 million.

We maintain a bank-syndicated, unsecured revolving credit agreement that provides for borrowings of up to $300.0 million. Borrowings are used to fund seasonal working capital needs and for other general corporate purposes, including acquisitions, dividends, stock repurchases and issuances of letters of credit. The credit facility matures in August 2012. at June 30, 2011 and December 31, 2010, $65.0 million and $10.0 million were outstanding under this revolving credit agreement, respectively.

Cash dividends of $1.09 per share and $1.00 per share of Common and Class B common stock were paid during the six months ended June 30, 2011 and 2010, respectively. in July 2011, the Board of Directors declared a regular quarterly cash dividend of $0.57 per share of Common and Class B common stock that was paid on July 29, 2011 to shareholders of record as of July 15, 2011. Future dividends and/or dividend rate increases will be at the sole discretion of the Board of Directors and will depend upon such factors as profitability, financial condition, cash requirements, restrictions under our revolving credit agreements, future prospects and other factors deemed relevant by our Board of Directors.

Read the The complete Report

Rate This Article:

Rating: 3.0/5 (1 vote)

Please Leave your Comment:    If you like this page, you will love our Premium Membership, take a Free Trial. Tell your friends about this page:

I know the typical home improvement stores have some of the smaller items, but where can I get 14" Flex, and 14" tri-wyes… I found a place online American HVAC parts, but their prices seem a little steep, and I would like to purchase locally if possible. Any suggestions?

Look in the phone book, or call a local heating and cooling company.

We have a company locally called Downriver refridgeration and supply that sells this type of stuff. look for a place with a simmilar name.

3600 square foot house, bottom floor has its own HVAC and is fine. 2nd story needs to be replaced, as it is always hot in the summer and cold in winter.

Contractor told me I needed to replace because the current compressor is not capable….he says I need a 3 ton compressor, and have a 1.5 ton, so that's why its not cooling sufficiently. does this sound right? He said it'd be about 6k installed….does this sound right? thanks.

The size of the unit he wants to put in sounds about right, price wise, depends on if he is changing out the furnace as well as the condensor, or if its just the condensor. you could always call and see what his estimate all includes.

Condensors are getting higher in price with the new refrigerant (410A) which is what you want now, in the year 2010 they are going to phase out R-22, which means they can no longer make it, and all they can do is recycle it, and the price of it will skyrocket.

Good Luck

If you are going from a ton and a half to 3 ton that sounds fair. The air handler will have to be replaced along with more ducts added. a duct system designed for 1.5 ton will never support a 3 ton system as the 1.5 ton air handler won't support 3 ton either. And chances are the copper line set will need replaced too as it is most likely too small for a 3 ton.
Have them add an Airbear filter to the system while they are at things.

How did he come to the conclusion that you need a 3 ton condensor? Did he do an engineering survey? you need to know square feet, insulation values, ceiling height, among other things, to even begin to size a unit properly. Be wary of the guy that shows up and randomly throws out a size without doing his home work.
As far as the 6k, we have units in the 3 ton size from $2000.00 up to $4800.00. Warranty, efficiency and brand will drive the price, as well as having to add duct work. Good Luck

What is square footage of 2nd story? if 1800 square foot then 2 1/2 to 3 ton sounds about right. And if duct work is in place. I would get a couple of other bids on unit and installation.