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Dec 31, 2023
Trane Q4 2023 Earnings Report
Trane Technologies reported strong fourth-quarter results, with revenue up 9 percent and organic revenue up 6 percent.
Key Takeaways
Trane Technologies reported a strong fourth quarter with revenues of $4.4 billion, up 9% and organic revenues up 6%. GAAP EPS was $2.23 and adjusted EPS was $2.17, a 19% increase. The company's backlog is $6.9 billion.
Reported revenues of $4.4 billion, up 9 percent; organic revenues up 6 percent
GAAP operating margin up 120 bps; adjusted operating margin up 190 bps
Organic bookings up 12 percent, with growth in all segments
GAAP continuing EPS of $2.23; adjusted continuing EPS of $2.17, up 19 percent
Trane
Trane
Trane Revenue by Segment
Trane Revenue by Geographic Location
Revenue by Segment
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.com Forward Guidance
The Company expects full-year 2024 reported revenue growth of approximately 7 percent to 8 percent; organic revenue growth of approximately 6 percent to 7 percent versus full-year 2023. The Company expects GAAP continuing EPS for full-year 2024 of $9.90 to $10.20. This includes EPS of $0.10 for non-GAAP adjustments. The Company expects adjusted continuing EPS for full-year 2024 of $10.00 to $10.30.
Positive Outlook
- Expects full-year 2024 reported revenue growth of approximately 7 percent to 8 percent
- Expects organic revenue growth of approximately 6 percent to 7 percent versus full-year 2023.
- Expects GAAP continuing EPS for full-year 2024 of $9.90 to $10.20.
- Includes EPS of $0.10 for non-GAAP adjustments.
- Expects adjusted continuing EPS for full-year 2024 of $10.00 to $10.30.
Revenue & Expenses
Visualization of income flow from segment revenue to net income