Trane Q1 2020 Earnings Report
Key Takeaways
Trane Technologies reported a decrease in revenue and EPS due to the impact of the COVID-19 pandemic. The company is suspending its 2020 guidance due to market uncertainty.
Reported bookings up 5 percent; organic bookings up 6 percent led by strength in the Americas.
Reported revenues down 6 percent; organic revenues down 5 percent; driven by COVID-19 impacts, particularly in Asia Pacific.
GAAP continuing EPS of $0.21; adjusted continuing EPS of $0.43.
Suspending 2020 guidance given market uncertainty related to COVID-19 and intend to reevaluate guidance for second quarter earnings call.
Trane
Trane
Forward Guidance
Given the current uncertainty created by the COVID-19 pandemic and its impact on the Company's end markets, the Company is suspending previously communicated financial guidance for 2020 and intends to reevaluate guidance on its second quarter earnings call.