With a diverse portfolio of industrial and commercial products, Ingersoll-Rand Plc IR is a premier player in the industrial goods market. This Dublin, Ireland-based firm has a solid foundation of global brands with a leading market share in all major product lines.After the divestiture of the commercial and residential security businesses, IR has been diligently focusing on improving the efficiencies and capabilities of its core businesses. The company is constantly on the lookout for opportunistic acquisitions to supplement its organic growth. However, IR operates in a competitive market place, which necessitates sustained investments in R&D initiatives to stay ahead of competition, thereby increasing its costs.With rising operating costs and adverse currency translation effects gradually shrinking margins, investors have been eagerly waiting for the company’s latest earnings report.In the last four trailing quarters, IR has reported a positive average earnings surprise of 5.43%, beating earnings estimates thrice. As the intensity of competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings reportCurrently, IR has a Zacks Rank #3 (Hold), but that could definitely change following the first-quarter 2016 earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below.Earnings: IR beats on earnings. The Zacks Consensus Estimate called for EPS of 37 cents, while the company reported adjusted EPS of 50 cents.Revenues: Revenues marginally exceeded. IR posted revenues of $2,894 million, compared to the Zacks Consensus Estimate of $2,888 million.Key Stats to Note: With expectations of a slow-to-moderate growth across the industry verticals, IR offered guidance for 2016. IR updated its adjusted earnings from continuing operations for the year are expected to be in the range of $3.95 to $4.10, while revenues are expected to be flat to up 2% year over year. During the quarter, the company sold its remaining shares in Hussmann Parent, Inc, in which Panasonic Corporation acquired 100% of Hussmann’s shares.Stock Price: Shares did not show any change in the pre-market trading following the release at the time of this write-up.Check back for our full write up on this IR earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report INGERSOLL RAND (IR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research