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Sep 30, 2020
Trane Q3 2020 Earnings Report
Reported strong third-quarter results in a challenging economic environment.
Key Takeaways
Trane Technologies reported a strong third quarter with revenue growth and margin expansion, exceeding prior outlook. Strong execution drove continuing EPS and operating income growth despite ongoing COVID-19 pandemic related impacts.
Reported bookings of $3.5 billion, reported and organic bookings up 7 percent.
Reported revenues of $3.5 billion, reported revenues up 1 percent; organic revenues up 50 bps.
GAAP operating margin up 70 bps; adjusted operating margin up 80 bps.
GAAP continuing EPS of $1.67; adjusted continuing EPS of $1.72, up 6 percent.
Trane
Trane
Forward Guidance
The Company expects 2020 free cash flow to be equal to or greater than 125 percent of adjusted net earnings.