Ingersoll Rand Orders Jump 21% as Starbucks and First Solar Revenue Declines

Key Facts

Ingersoll Rand reported orders of $2.345 billion in the third quarter of 2026, up 21% year over year, while revenue rose 6% to $2.065 billion, according to results published by the company via Nasdaq on Oct. 29. Reported net income was $670 million, or $1.73 per share, while adjusted net income reached $415 million, or $1.07 per share. Adjusted net income increased 24% from the year-earlier quarter. The chief executive said performance reflected "an improvement in the demand environment." The company raised its annual revenue growth outlook, signaling continued momentum from the orders recorded during the quarter.

Ingersoll Rand said organic orders growth reflected improving demand and continued execution by its teams, with activity in short-, medium- and long-cycle businesses across geographies and end markets. Orders included a project worth about $195 million for a custom engineered solution for large-scale critical infrastructure. The deal falls within the long-cycle projects that contributed to order growth in the Industrial Technologies and Services segment. The order volume adds to evidence of broader commercial activity during the quarter, alongside revenue growth. Separately, the company authorized a $2 billion increase in its share repurchase program, in addition to $313 million remaining under the previous authorization.

Starbucks’ fourth-quarter fiscal results showed a mixed picture: global comparable sales rose 7.2%, but consolidated revenue fell 4% to $9.1 billion. Comparable sales growth was driven by a 5.2% increase in average ticket and a 1.8% rise in comparable transactions. GAAP operating margin expanded 790 basis points year over year to 10.8%. The company attributed the margin expansion mainly to lower restructuring costs and sales growth leverage. After the close on Thursday, Oct. 29, its shares fell about 2% in after-hours trading, according to the Associated Press.

Performance varied across Starbucks markets: comparable sales rose 7.9% in North America and 7.7% in the U.S., while international comparable sales increased 0.9%. International comparable transactions declined 2.8%, highlighting differences in the components of sales growth across markets. At the same time, international segment revenue fell 37% to $1.3 billion. The company attributed the decline mainly to converting its China store operations to a licensed joint-venture model. For fiscal 2026, global comparable sales rose 6.2% and consolidated revenue increased 2% to $37.9 billion.

Starbucks set its fiscal 2027 outlook for net revenue to decline about 1%, with North American company-operated comparable store sales growth of about 4%. The next fiscal year will have 53 weeks, the company said. It also forecast opening about 1,200 net new coffeehouses globally, with international markets leading growth. The plans follow the closure of about 250 company-owned coffeehouses in North America during September 2026 as part of a store portfolio reassessment plan. The outlook combines continued global expansion with an expected year-over-year decline in net revenue.

In solar energy, First Solar sales fell 23% year over year in the third quarter of 2026 to $1.23 billion, with the company saying the main reason was lower volumes of modules sold to third parties. It cut its expected sales volume range for the year to 16.0–17.0 gigawatts from 17.0–18.2 gigawatts previously. It also lowered its annual net sales range to $4.6–$4.9 billion from $4.9–$5.2 billion. Meanwhile, its contracted backlog stood at 44.0 gigawatts on Sept. 30, 2026. The board approved a share repurchase program of up to $500 million, while the chief executive said the company believes it is structurally positioned to benefit from changes in U.S. solar manufacturing policy.

Shares closed on Oct. 29, 2026, at $80.01 for Ingersoll Rand, $105.51 for Starbucks and $176.89 for First Solar, according to EL7 data. The results show contrasting patterns: order growth and revenue growth at Ingersoll Rand, improved comparable sales alongside lower revenue at Starbucks, and lower First Solar sales alongside reduced annual guidance. Closing prices alone do not indicate after-hours trading moves following the results. The next outlook period for Starbucks is fiscal 2027, while First Solar’s revised ranges cover the remainder of fiscal 2026. Ingersoll Rand set its annual revenue growth outlook at 5.5% to 7.0% and adjusted earnings per share at $3.58 to $3.70, excluding tariff refunds in the third quarter.