Trane Q3 2022 Earnings Report
Key Takeaways
Trane Technologies reported strong third-quarter financial performance with 8 percent organic bookings growth, 19 percent organic revenue growth and 26 percent adjusted EPS growth. The company raised its full-year guidance for revenue and EPS due to high levels of customer demand for its innovative, sustainable solutions.
Reported revenues of $4.4 billion, up 18 percent; organic revenues up 19 percent.
GAAP operating margin up 120 bps; adjusted operating margin up 60 bps.
GAAP continuing EPS of $2.38; adjusted continuing EPS of $2.27, up 26 percent.
Strong backlog of $6.4 billion, up 28 percent.
Trane
Trane
Forward Guidance
The Company expects full-year reported revenue growth of approximately 11 percent to 12 percent; organic revenue growth of approximately 13 percent to 14 percent versus full-year 2021. The Company expects GAAP continuing EPS for full-year 2022 of $7.24 to $7.29. The Company expects adjusted continuing EPS for full-year 2022 of $7.15 to $7.20.