Trane Technologies Beats Q2 Expectations, Raises 2024 Guidance Amid Solid Bookings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
0mins
Source: Benzinga
Financial Performance: Trane Technologies reported a 13% year-over-year revenue growth to $5.31 billion, exceeding expectations, and raised its FY24 guidance for organic revenue growth to 10% and adjusted EPS to $10.80.
Shareholder Returns: The company plans to maintain a competitive dividend while deploying excess cash to shareholders, having committed around $1.2 billion in capital year-to-date, including dividends and share repurchases.
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Analyst Views on TT
Wall Street analysts forecast TT stock price to fall
14 Analyst Rating
8 Buy
5 Hold
1 Sell
Moderate Buy
Current: 484.580
Low
370.00
Averages
476.33
High
550.00
Current: 484.580
Low
370.00
Averages
476.33
High
550.00
About TT
Trane Technologies PLC is a global climate innovator. Through its brands Trane and Thermo King, and its portfolio of products and services, the Company brings climate solutions to buildings, homes, and transportation. Its Americas segment serves customers in North America and Latin America and includes commercial heating, cooling, and ventilation systems, building controls and solutions, and energy services and solutions; residential heating and cooling; and transport refrigeration systems and solutions. Its EMEA segment serves customers in the Europe, Middle East and Africa regions and includes heating, cooling and ventilation systems, services and solutions. Its Asia Pacific segment serves customers throughout the Asia Pacific region and includes heating, cooling and ventilation systems and others. The Company also provides turnkey data center cooling solutions and liquid cooling technology for data centers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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