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Dec 31, 2022
Trane Q4 2022 Earnings Report
Trane reported strong fourth-quarter and full-year results, with robust backlog providing strong visibility entering 2023.
Key Takeaways
Trane Technologies reported a 14% increase in revenue to $4.1 billion, with organic revenues up 16%. GAAP EPS was $1.91, while adjusted EPS was $1.82, a 34% increase. The company's backlog remained strong at $6.9 billion, up 27% year-over-year.
Delivered strong fourth-quarter revenue, operating income, EBITDA and EPS growth.
Enterprise reported revenues were up 14 percent, including approximately 1 percentage point of acquisitions offset by approximately 3 percentage points of negative foreign exchange impact. Organic revenues were up 16 percent.
GAAP operating margin was up 210 basis points, adjusted operating margin was up 120 basis points and adjusted EBITDA margin was up 100 basis points.
Strong volume growth, positive price realization and productivity more than offset material and other inflation related to supply chain challenges and higher costs to serve customers.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects full-year 2023 reported revenue growth of approximately 7 percent to 9 percent; organic revenue growth of approximately 6 percent to 8 percent versus full-year 2022. The Company expects GAAP continuing EPS for full-year 2023 of $8.10 to $8.40. This includes EPS of $0.10 for non-GAAP adjustments. The Company expects adjusted continuing EPS for full-year 2023 of $8.20 to $8.50.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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