Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 31

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 31
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 %Segment Revenues$5,818.1 $5,632.8 3.3 %Segment Adjusted EBITDA$1,754.8 $1,587.3 10.6 %Segment Adjusted EBITDA Margin30.2 %28.2 %200 bps

2024 vs. 2023

Segment Orders for 2024 were $5,706.6 million, an increase of $87.7 million, or 1.6%, compared to $5,618.9 million in 2023. The increase in Segment Orders was primarily due to acquisitions of $253.7 million or 4.5%, partially offset by organic decline of $141.1 million or 2.5% and the unfavorable impact of foreign currencies of $24.9 million or 0.4%.

Segment Revenues for 2024 were $5,818.1 million, an increase of $185.3 million, or 3.3%, compared to $5,632.8 million in 2023. The increase in Segment Revenues was primarily due to acquisitions of $253.4 million or 4.5% and higher pricing of $125.3 million or 2.2%, partially offset by lower organic sales volumes of $169.7 million or 3.0% and the unfavorable impact of foreign currencies of $23.7 million or 0.4%. The percentage of Segment Revenues derived from aftermarket parts and service was 39.9% in 2024 compared to 39.2% in 2023.

Segment Adjusted EBITDA in 2024 was $1,754.8 million, an increase of $167.5 million, or 10.6%, from $1,587.3 million in 2023. Segment Adjusted EBITDA Margin increased 200 bps to 30.2% from 28.2% in 2023. The increase in Segment Adjusted EBITDA was primarily due to higher pricing of $125.3 million or 7.9%, favorable cost productivity and product mix of $72.9 million or 4.6%, and acquisitions of $53.6 million or 3.4%, partially offset by lower organic sales volumes of $71.0 million or 4.5%, higher selling and administrative expenses of $9.2 million or 0.6%, and the unfavorable