Trane Technologies Delivers Strong Q3: Revenue And EPS Outpace Expectations Amid Rising Demand

Trane Technologies plc (NYSE:TT) shares are trading higher after the company reported third-quarter financial results and raised its FY24 guidance.

Revenues grew 11% year-over-year to $5.44 billion, surpassing the consensus of $5.32 billion. Bookings increased 5% to $5.213 billion in the quarter.

Enterprise reported an 11% increase in both revenues and organic revenues. The backlog totaled $7.2 billion, versus $6.9 billion at year-end 2023.

Adjusted EBITDA rose 18% to $1.127 billion, with margin expansion of 120 bps Y/Y to 20.7%. Adjusted EPS of $3.37 ...