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Tariff Quote Watch: Ingersoll-Rand Ready For Tariff Hike in 2019

China 2719 Industrials - Capital Goods 504 Quote Watch 323 Tariffs 1698 U.S. 4835

Ingersoll-Rand reported 4Q 2018 pre-tax profits that were 3.4% below analysts’ expectations. CEO Michael Lamach stated that the firm “delivered pricing and productivity actions” which enabled the firm to manage additional costs from tariffs on steel and exports of China. The outlook may be more challenging. The firm expects “a planned step-up from 10% to 25%” from Mar. 2 for tariffs on Chinese exports and that it will “aggressively pursue procurement, pricing and productivity actions”. The company may already have scaled back its imports from China, with seaborne shipments having fallen ...

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