Trane Q1 2021 Earnings Report
Key Takeaways
Trane Technologies reported a strong first quarter with significant growth in bookings, revenues, and margins. The company has raised its full-year 2021 guidance for both revenue growth and EPS.
Reported bookings increased by 34 percent, with organic bookings up 31 percent.
Reported revenues increased by 14 percent, with organic revenues up 11 percent.
GAAP operating margin increased by 590 bps, and adjusted operating margin increased by 500 bps.
GAAP continuing EPS was $0.96, and adjusted continuing EPS was $1.01, up 135 percent.
Trane
Trane
Forward Guidance
Trane Technologies raised its full year 2021 guidance above previous ranges for both revenue growth and EPS. The company now expects revenue growth of approximately 10.5 percent and adjusted EPS of approximately $6.00.
Positive Outlook
- Revenue up approximately 10.5 percent.
- Organic revenues up approximately 9 percent versus 2020.
- GAAP continuing EPS of $5.75.
- Adjusted continuing EPS of $6.00.
- Adjusted continuing EPS up 35 percent versus 2020.