Trane Q2 2020 Earnings Report
Key Takeaways
Trane Technologies reported a decrease in revenue and EPS due to the impact of the COVID-19 pandemic. However, strong execution allowed the company to manage deleverage within gross margin target levels and maintain high levels of business reinvestment.
Reported bookings of $3.3 billion, reported and organic bookings down 7 percent.
Reported revenues of $3.1 billion, reported and organic revenues down 13 percent.
GAAP continuing EPS of $1.14; adjusted continuing EPS of $1.27.
Bookings, revenues, EPS heavily impacted by continued impacts from COVID-19 pandemic.
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 has not reinstated financial guidance for 2020. The Company intends to reevaluate guidance on its third quarter earnings call.