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Fridge orders flat says Thermo King

Swords, Co Dublin, Ireland: Total Thermo King refrigerated transport revenues declined in the third quarter of the year compared with last year as moderate growth in the Americas was more than offset by declines in European and Asian markets and unfavourable currency exchange rates, according to parent Ingersoll-Rand.

Ingersoll-Rand senior vice president Steven Shawley said that “orders were flat versus last years third quarter”. Revenues were also down high-single digits (down low-single digits when excluding currency), said Shawley. Worldwide refrigerated truck and trailer revenues were down low-single digits with an increase in North America more than offset by declining volume and currency in Europe.

Ingersoll-Rand reported net earnings of $321.6m for the third quarter of 2012. Third-quarter net earnings included $333.9m from continuing operations, as well as an after tax loss of $12.3m, from discontinued operations. This compares with net earnings for the 2011 third quarter of $86.2m from continuing operations. Third-quarter 2011 earnings per share included $180.6m of impairment costs related to the disposal of the Hussmann refrigeration business.