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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
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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