The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Christopher M. Snyder - UBS Investment Bank, Research Division - Analyst
: I wanted to ask on the fourth quarter. The guide -- a pretty wide range of outcomes in the organic growth guide, anywhere from
down 1% to up 6% by my math. Can you just maybe talk about some of the puts and takes or the variables that would drive the
range of outcomes from the high end to the low end?
Question: Christopher M. Snyder - UBS Investment Bank, Research Division - Analyst
: Really, really helpful. Maybe for my follow-up, just on prior commentary around the expecting sequential order improvement into
Q4, it doesn't really seem like that's seasonal. It seems like typically, Q4s are similar to Q3, if not lower. So should we take that? Is that
just around timing of some of these bigger projects coming through? Or is that a signal of demand is at least stabilizing, if not
improving?
Question: Adam Michael Farley - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst
: This is Adam Farley on for Nathan. My first question is on channel inventory. What, if any, impact of channel inventory correction
having on your business?
Question: Adam Michael Farley - Stifel, Nicolaus & Company, Incorporated, Research Division - Analyst
: Okay. That makes sense. And then on my follow-up, the Power Tools and Lifting business continues to show really solid growth. That
business has really improved under your ownership. So what's driving the strength there? And I believe that business has been
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NOVEMBER 02, 2023 / 12:00PM, IR.N - Q3 2023 Ingersoll Rand Inc Earnings Call
considered noncore in the past. So maybe could you provide an update on, are you thinking about the portfolio and the potential
for portfolio rationalization?
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