Trane Technologies PLC

Latest Results (17.12.2024):

Revenue Growth

Trane Technologies PLC reported strong financial results for the third quarter of 2024, with revenues reaching $5.4 billion, marking an 11% increase compared to the same period in 2023. This growth was driven by both reported and organic revenue increases, reflecting the company's robust performance across its business segments.

Earnings Per Share

For the third quarter of 2024, Trane Technologies PLC achieved a GAAP continuing earnings per share (EPS) of $3.43, while the adjusted continuing EPS was $3.37, representing a 21% increase from the previous year. This significant growth in EPS highlights the company's strong operational performance and effective cost management strategies.

Operating Margins

Trane Technologies PLC reported an improvement in its operating margins for the third quarter of 2024. The GAAP operating margin increased by 110 basis points to 18.8%, and the adjusted operating margin rose by 90 basis points to 18.9%. These enhancements were supported by strong volume growth, positive price realization, and productivity gains.

Bookings and Backlog

The company reported continued strong bookings of $5.2 billion for the third quarter of 2024, a 5% increase compared to the same period in 2023. Additionally, Trane Technologies PLC's backlog grew to $7.2 billion, up from $6.9 billion at the end of 2023, indicating a healthy demand for its sustainable solutions and a strong project pipeline.

2024 Outlook

Trane Technologies PLC has raised its full-year 2024 revenue and adjusted EPS guidance, expecting approximately 11% growth in both reported and organic revenues. The company anticipates a full-year GAAP and adjusted continuing EPS of approximately $11.10, reflecting its confidence in sustained growth and its strategic focus on delivering differentiated shareholder returns.