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Jun 30, 2024
Trane Q2 2024 Earnings Report
Reported strong second quarter results, with revenue and EPS guidance raised for 2024.
Key Takeaways
Trane Technologies reported a strong second quarter with a 13% increase in revenue to $5.3 billion and a 23% increase in adjusted EPS to $3.30. The company has raised its full-year revenue and adjusted EPS guidance.
Delivered strong revenue, operating income, EBITDA and EPS growth.
Strong bookings of $5.3 billion, up 19 percent.
Backlog of $7.5 billion, including approximately $2.8 billion of Commercial HVAC backlog for 2025 and beyond, with $1 billion added in the second quarter.
Enterprise reported revenues and organic revenues were both up 13 percent.
Trane
Trane
Trane Revenue by Segment
Trane Revenue by Geographic Location
Revenue by Segment
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
The Company expects full-year reported and organic revenue growth of approximately 10 percent and GAAP and adjusted continuing EPS for full-year 2024 of approximately $10.80.
Positive Outlook
- Expects full-year reported and organic revenue growth of approximately 10 percent.
- Reported revenue growth includes approximately 1 percentage point of M&A.
- Adjusted continuing EPS for full-year 2024 of approximately $10.80.
- Expects to continue to pay a competitive and growing dividend.
- Deploy 100 percent of excess cash to shareholders over time.
Challenges Ahead
- Reported revenue growth offset by approximately 1 percentage point of negative foreign exchange.
- Global economic conditions, including recessions and economic downturns.
- Volatility in interest rates and foreign exchange.
- Commodity shortages.
- Supply chain constraints and price increases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income