Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 32

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 32
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 impact of foreign currencies of $5.6 million or 0.4%.

Precision and Science Technologies Segment Results

Years Ended December 31,Percent Change202420232024 vs. 2023Segment Orders$1,398.9 $1,203.5 16.2 %Segment Revenues$1,416.9 $1,243.3 14.0 %Segment Adjusted EBITDA$418.8 $372.8 12.3 %Segment Adjusted EBITDA Margin29.6 %30.0 %(40) bps

2024 vs. 2023

Segment Orders for 2024 were $1,398.9 million, an increase of $195.4 million, or 16.2%, compared to $1,203.5 million in 2023. The increase in Segment Orders was primarily due to acquisitions of $190.5 million or 15.8% and higher organic orders of $5.5 million or 0.5%, partially offset by the unfavorable impact of foreign currencies of $0.6 million or 0.0%.

Segment Revenues for 2024 were $1,416.9 million, an increase of $173.6 million, or 14.0%, compared to $1,243.3 million in 2023. The increase in Segment Revenues was primarily due to acquisitions of $217.8 million or 17.5% and higher pricing of $28.0 million or 2.3%, partially offset by lower organic volumes of $72.2 million or 5.8%. The percentage of Segment Revenues derived from aftermarket parts and service was 21.6% in 2024 compared to 20.3% in 2023.

Segment Adjusted EBITDA in 2024 was $418.8 million, an increase of $46.0 million, or 12.3%, from $372.8 million in 2023. Segment Adjusted EBITDA Margin decreased 40 bps to 29.6% from 30.0% in 2023. The increase in Segment Adjusted EBITDA was due primarily to acquisitions of $52.0 million or 13.9%, higher pricing of $28.0 million or 7.5%, and favorable cost productivity and product mix of $1.8 million or 0.5%, partially offset by lower organic