Reports Q2 revenue $4.7B, consensus $4.61B. “Our global team delivered strong financial performance again in the second quarter through focused execution of our purpose-driven strategy,” said Dave Regnery, chair and CEO, Trane Technologies. “We drove organic revenue growth of 11 percent, expanded adjusted EBITDA margin to 19.7 percent and delivered adjusted EPS growth of 24 percent. Bookings remained near record levels, reflecting healthy end-markets. “Our solid operating performance through the first half of 2023, resilient portfolio and unprecedented backlog give us confidence in raising our full-year revenue and adjusted EPS guidance. Our leading innovation positions us to leverage energy efficiency and decarbonization megatrends and continue delivering superior growth and differentiated shareholder returns over the long term.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TT:
- Trane Technologies Plc (TT) Q2 Earnings Cheat Sheet
- Rockwell among stocks to play revival of U.S. manufacturing, Barron’s says
- 3 Air Conditioning Stocks to Beat the Heat as Global Temperatures Rise
- Trane price target raised to $181 from $172 at Wells Fargo
- Trane price target raised to $210 from $201 at Barclays