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Mar 31, 2024
Trane Q1 2024 Earnings Report
Reported strong first quarter results with revenue and EPS growth, and raised 2024 revenue and EPS guidance.
Key Takeaways
Trane Technologies reported a strong first quarter with a 15% increase in reported revenues and a 38% increase in adjusted EPS. The company raised its full-year guidance for organic revenue and adjusted EPS growth.
Reported revenues of $4.2 billion, up 15 percent; organic revenues up 14 percent.
GAAP operating margin up 250 bps; adjusted operating margin up 230 bps.
Adjusted EBITDA margin of 16.8 percent, up 200 bps.
Organic bookings up 17 percent, led by Americas Commercial HVAC, up 30 percent.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects full-year reported and organic revenue growth of 8 to 9 percent and adjusted continuing EPS for full-year 2024 of $10.40 to $10.50.
Positive Outlook
- Expects full-year reported and organic revenue growth of 8 to 9 percent.
- Reported revenue growth includes approximately 1 percentage point of M&A offset by approximately 1 percentage point of negative foreign exchange.
- Expects GAAP continuing EPS for full-year 2024 of approximately $10.30 to $10.40.
- GAAP EPS includes $0.10 for non-GAAP adjustments.
- Expects adjusted continuing EPS for full-year 2024 of $10.40 to $10.50.
Challenges Ahead
- Global economic conditions, including recessions and economic downturns, inflation, volatility in interest rates and foreign exchange
- Changing energy prices
- National and international conflict
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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