Trane Q1 2023 Earnings Report
Key Takeaways
Trane Technologies reported a strong first quarter with organic revenue growth of 9 percent and adjusted EPS growth of 26 percent. The company raised its full-year guidance for organic revenue and adjusted EPS growth.
Delivered strong first-quarter revenue, operating income, EBITDA and EPS growth.
Enterprise reported and organic revenues were both up 9 percent.
Strong book-to-bill ratio of 117 percent.
GAAP operating margin was up 90 basis points, adjusted operating margin was up 140 basis points and adjusted EBITDA margin was up 100 basis points.
Trane
Trane
Forward Guidance
The Company expects full-year reported revenue growth of approximately 9 percent to 10 percent; organic revenue growth of approximately 7 percent to 8 percent versus full-year 2022. The Company expects GAAP continuing EPS for full-year 2023 of $8.20 to $8.40. This includes EPS of $0.10 for non-GAAP adjustments. The Company expects adjusted continuing EPS for full-year 2023 of $8.30 to $8.50.