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● Third - Quarter 2021 Highlights ( All comparisons against the third - quarter of 2020 unless otherwise noted . ) Strong performance driven by its competitive differentiator - Ingersoll Rand Execution Excellence ( IRX ) : Record orders of $ 1,498 million , up 37 % ( 30 % organically ) Record revenues of $ 1,325 million , up 19 % ( 13 % organically ) Reported net income attributable to Ingersoll Rand of $ 126 million , or earnings of $ 0.30 per share , up 327 % from prior year net income attributable to Ingersoll Rand of $ 30 million Adjusted net income from continuing operations , net of tax¹ of $ 239 million , or $ 0.57 per share Adjusted EBITDA¹ of $ 314 million , up 25 % , with a margin of 23.7 % Reported operating cash flow from continuing operations of $ 146 million and free cash flow from continuing operations¹ of $ 131 million ● IR Ingersoll Rand . ● O ● O Ingersoll Rand Reports Third - Quarter 2021 Results Strong Double - Digit Orders and Revenue Growth ; Raising 2021 Guidance Adjusted free cash flow of $ 307 million , excluding outflows of transaction - related expenses of $ 6 million and cash taxes related to recent divestitures of $ 220 million , and a cash inflow from Trane Technologies for IR merger post closing adjustments of $ 49 million Capital Allocation Strategy Announced a comprehensive M & A focused capital allocation strategy Executed $ 731 million share repurchase as part of KKR's sale of remaining equity stake Initiated a $ 0.02 per share quarterly dividend program beginning in Q4 2021 Announced a new board - authorized share repurchase program of $ 750 million Completed $ 395 million debt prepayment to remove higher interest rate tranche of debt Recent Portfolio Enhancements Acquired Air Dimensions Inc. , a manufacturer of vacuum diaphragm pumps for environmental applications , for $ 70.5 million Liquidity of $ 3.1 billion as of September 30 , 2021 , including $ 2.0 billion of cash on hand and undrawn capacity of $ 1.0 billion under available credit facilities 2021 Guidance Announced the signing of an agreement to acquire Tuthill Pumps , a manufacturer of gear and piston pumps , for $ 84.6 million , with closing expected in Q4 2021 , subject to obtaining required regulatory approvals Acquired Lawrence Factor Inc. , a leader in air purity analysis solutions , for $ 6.0 million Completed the acquisitions of Seepex , a manufacturer of progressive cavity pumps , and Maximus Solutions , a provider of digital controls and Industrial Internet of Things ( IIoT ) production management systems for the AgriTech market Raising full - year 2021 revenue growth expectation ( excluding the HPS and SVT businesses and the pending acquisition of Tuthill Pumps and including the completed acquisitions of Seepex , Maximus Solutions , Air Dimensions and Lawrence Factor ) to high teens , and raising Adjusted EBITDA guidance to $ 1.175 billion to $ 1.195 billion , or up approximately $ 20 million from the Q2 2021 guidance midpoint DAVIDSON , N.C. - November 3 , 2021 - Ingersoll Rand Inc. ( NYSE : IR ) reported record orders and revenue in the third quarter of 2021 . Non - GAAP measure ( definitions and / or reconciliations in tables below ) 1